XRP Rumor Check: What is the truth about Ripple, CLARITY, SWIFT and Schwab

XRP rumor check: What happened behind Ripple, CLARITY, SWIFT and Schwab

This week, XRP is closely related to a number of major news items. However, XRP community member MRC ̧ ULIM ̧ N pointed out that many of the viral versions circulating on social media go far beyond what the underlying document actually expresses.

In a detailed "XRP Rumor Check" article, he clarified claims involving the Ripple lawsuit, CLARITY Act, SWIFT, Charles Schwab, U.S. Treasury repurchase, XRPL ledger upgrades, ETF funds flow, and Ripple's treasury. His core point is concise and to the point: some of these developments are indeed real and important, but this does not mean that XRP itself is directly involved.

Ripple case did not end abruptly this week

Rumors claim that the U.S. Securities and Exchange Commission (SEC) filed a new settlement on September 9 or 10, and the Ripple case ended. This statement is misleading.

In fact, the SEC and Ripple each withdrew their appeals in August 2025, effectively ending the enforcement action while retaining the existing District Court's decision. Therefore, there is no so-called new settlement event that suddenly closed the case in September 2026.

MRC ̧ ULIM ̧ N emphasizes that screenshots circulated on the X platform should not be regarded as court documents unless they can be found in official records.

September 15 is an important node for the CLARITY bill, but it will not be finally passed

September 15 is indeed the day of the Digital Asset Market Clarity Act (H.R. 3633). The coordination motion is expected to take effect at 2:15 p.m. EDT and typically requires 60 votes to advance the bill.

But this is just a procedural obstacle. This does not mean that the bill has passed the Senate, became law, or immediately changed the legal status of XRP. Treasury Secretary Scott Bessant has urged senators to continue negotiations, a sign that legislative work is still in progress.

September 15 is indeed worthy of attention for XRP holders, but it should not be seen as the day when XRP automatically gains full regulatory clarity.

SWIFT uses tokenized deposits rather than XRP

Another term connects XRP to a recent transaction between DBS, Citigroup and SWIFT. DBS Bank and Citigroup did complete cross-border U.S. dollar payments using tokenized bank deposits through SWIFT's digital ledger.

This is a meaningful development for round-the-clock banking infrastructure. However, the transaction did not use XRP and was not settled on the XRP ledger, nor does it prove that SWIFT chose XRP. Although Ripple and SWIFT have overlapping business scopes in the cross-border finance space, this does not mean that any blockchain development at SWIFT is an integration of XRP.

Schwab's filings mention XRP ETF, but Schwab did not buy XRP

The story of Charles Schwab is more substantive. A document related to the Schwarp Prime Advantage Money Fund reported lists shares of several XRP ETFs as collateral in repurchase agreements.

This is noteworthy because it places XRP-related ETF products within the infrastructure of traditional financial markets. But that doesn't mean Schwab bought millions of dollars in XRP for his balance sheet.

In repo transactions, securities can be used as collateral for cash loans. As a result, the document shows that XRP ETF shares were used as collateral, not necessarily Schwab's direct investment in XRP. This is an important difference.

$6 billion Treasury repurchase has nothing to do with XRP

The U.S. Treasury also announced a $6 billion long-term bond repurchase operation scheduled for September 10. This operation is real, but has nothing to do with XRP.

Ripple, XRP or XRPL were not mentioned in the Ministry of Finance announcement. While liquidity in the treasury bond market can indirectly affect cryptocurrencies through yields and broader financial conditions, this is not an incident targeted at XRP. Marking a screenshot with XRP does not turn it into an XRP-related event.

XRPL upgrades are confused

MRC ̧ ULIM ̧ N also resolves confusion about the upcoming XRP Ledger upgrade. The key point is that releasing software does not mean that every feature contained in it has been activated.

Based on his tracking, fixCleanup3_3_0 is currently within its 14-day activation window and could be launched around September 11 if validator support remains high enough. In contrast, BatchV1_1 has not yet reached the required threshold, meaning its activation clock has not yet started. The same goes for confidential transfers. Inclusion in XRPL software does not mean activation on the main network.

XRPL upgrades require more than 80% validator support for two consecutive weeks to activate. With 35 validators, 28 votes equals exactly 80%, so if all 35 participate, at least 29 votes are needed to exceed 80%.

ETF inflows are not another SEC approval

Another circulating figure is that spot XRP ETF inflows on September 9 were approximately US$12.3 million. This may be a bullish signal for XRP-related investment demand, but it does not mean that a new ETF has been approved.

Spot XRP ETF already exists. This figure only reflects capital inflows into existing products. ETF inflows and ETF approvals are completely different things.

The US$13 trillion in the Ripple Treasury is not the US$13 trillion settled in XRP

The last rumor involved the Ripple Treasury and approximately US$13 trillion in corporate payment activity related to GTreasury. Ripple owns GTreasury, a platform that handles huge payments.

But this does not mean that US$13 trillion was settled using XRP. Ripple is a company, XRPL is a network, and XRP is an asset. Having a treasury platform does not automatically turn every transaction processed by the company into an XRP transaction. For this claim to hold true, there must be evidence that the underlying payment actually used XRP.

The real facts still matter

MRC ‰ ULIM ‰ N is not arguing that nothing important happened around the XRP. There are real developments: the CLARITY bill is approaching a key Senate vote, XRP ETF shares are entering traditional financial structures, spot XRP ETFs attract capital, and XRPL continues to prepare for new features.

The problem is when the story is exaggerated. "Related to Ripple" does not mean "using XRP". "Included in the software" does not mean "already online". "ETF collateral" does not mean "Schwab bought XRP." A procedural Senate vote does not mean that XRP gains immediate regulatory clarity.

For XRP holders, the facts themselves are fascinating enough, even without adding claims that the document does not support.