Stranger Things Season 5: This fan theory about Jonathan feels like a spoiler after the hidden ring clue

Stranger Things Season 5 released its first four episodes on November 26, 2025. Fans all over the world rushed back to Hawkins with excitement. Many viewers expected thrills, mystery, and big final moments. This is the last season of a show that started in 2016.

The next part will release on December 25, 2025. Stranger Things Season 5 ending will come on December 31, 2025. Fans are now counting down the days.

But before the excitement settled, the internet exploded with theories. Fans are studying every scene. They are looking at every glance and every object. Social media and forums are full of theories and what-ifs.

One dark fan theory has started to spread. It involves Jonathan (Charlie Heaton), Nancy (Natalia Dyer), Steve (Joe Keery), and Vecna (Jamie Campbell Bower). It suggests a scary twist connected to the Upside Down. The theory says a sweet love story may turn evil. Jonathan seems to be preparing to propose to Nancy. He gets a ring and a cassette in early episodes. Fans fear these items may become a trap, not a promise.

---

Stranger Things Season 5 fan theory about Jonathan

In Stranger Things Season 5 Episode 3, Jonathan opens a cassette. Inside, he finds an engagement ring for Nancy. In the same scene, Murray tells Jonathan to “get it over with.” He means that Jonathan should propose. But the timing feels wrong. There are Demogorgon attacks. There is also chaos in Nancy’s family.

So far, Jonathan has not proposed. This makes some fans suspicious. Why show the ring so early if it is not used yet? So a new theory begins.

The theory says Jonathan could be “Vecna’ed.” That means he could become Vecna’s next victim. If that happens, Nancy may try to save him using his favorite song. During that moment, she could find the cassette. Inside, she would see the ring. But by then, Jonathan may already be gone or lost to the Upside Down. This would mix love, hope, and heartbreak together.

By the end of Stranger Things Season 5 Episode 4, we know that Dustin, Steve, Jonathan, and Nancy are all in the Upside Down. Or they are at least trapped inside it.

So some fans believe Jonathan may die or sacrifice himself. Nancy may then find the cassette and ring. This would lead to a very painful heartbreak.

This theory is going viral on social media, especially Instagram. Another shocking idea comes from the comments. Some fans think Steve might find the cassette, see the ring, and hide it from Nancy without telling her.

If this happens, the emotional pain would be huge. Steve would know Jonathan planned to propose. But Nancy would not know.

If Jonathan later dies or disappears, Nancy would never learn the truth. The audience would know. But she would not. This makes the moment tragic and painful.

This would also put Steve in a terrible position. Should he tell Nancy the truth and hurt himself? Or should he keep the secret to protect her from pain? Either choice would change Steve deeply. It could give him one of his most emotional stories in Stranger Things Season 5.

However, we do not want to bring down the character development of, as Robin would put it, “Steve ‘The Hair’ Harrington.” So, another fan shared an even bigger and sadder theory.

In this version, Jonathan tells Steve about the ring before a dangerous mission. During a life-or-death moment, Jonathan says, “Tell Nancy I love her.” It sounds like his final goodbye.

But then a tragic twist happens. Steve pushes Jonathan out of danger and sacrifices himself instead. He tells Jonathan, “Tell her yourself.” Steve’s death would break fans’ hearts. It would also change the meaning of the ring. The ring would no longer stand for Jonathan’s future with Nancy. It would become a symbol of Steve’s sacrifice.

Steve has often been shown as a protector and hero. Because of that, a final sacrifice for him feels tragically believable.

Some fans shared an even darker idea for Stranger Things Season 5. In this version, Nancy dies. She dies before Jonathan gives her the ring. Jonathan is left holding the ring and crying. He realizes that he waited too long.

This connects to what Murray said earlier. He told Jonathan not to delay important moments. If this version happens:

- The ring becomes a symbol of regret.

- Jonathan’s story becomes about waiting too long and losing everything.

- Nancy’s death becomes deeply personal, not just heroic.

Some fans say this version is even more painful than Jonathan’s death. That is because Jonathan would have to live with guilt. He would always wonder “what if”.