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It's no secret that Ryan Lochte has had quite the roller coaster week following his highly publicized Rio robbery scandal, but what's next for the Olympic swimmer?

E! News has learned what the next steps are for the young athlete, and what he hopes to happen after what may arguably be one of the most controversial and disappointing weeks of his life.

"Ryan is not planning on doing anything big at this moment. He is trying to let the dust settle for now," a source tells E! News exclusively. "He is taking a break from swimming for a little bit, but will get back at training when he feels up to it. He is not giving up, he just is very overwhelmed what has happened."

Additionally, the insider tells us Lochte has been receiving support from loved ones during this trying time, but hopes the general public can look past his faults.

"He has his family for emotional support, but they even have given him some tough love. He was in Los Angeles just minding his business and hiding out with his lady friend. He wants to put all of this behind him."

The source adds, "He knows it will take a while for people to look past everything that has happen over the past two weeks, but he hopes people understand he made a stupid mistake."

E! News reported last night that Lochte "feels like his life is crumbling under him. He is reevaluating everything. He honestly did not think this was going to be blown out of proportion like it was. He just felt like he had to keep up with this lie or else. After everyone found out the truth he knew it was over. He really does feel bad."

Following the global scandal that sparked during the Rio Games, Lochte has lost all of his sponsorships.

During a sit-down interview with Matt Lauer, the Olympian expressed his remorse, saying, "That's why I'm taking full responsibility for it because I over-exaggerated that story and if I [had] never done that, we wouldn't be in this mess. The people of Rio...the authorities—they put on a great games," he continued. "My immature intoxicated behavior tarnished that a little."