- Ripple’s significant XRP movements indicate potential SEC lawsuit settlement preparations.
- Speculations arise about Ripple’s next steps as they retain 1.3 billion XRP.
Ripple unlocked 1 billion XRP from escrow on July 1, keeping 1.3 billion XRP in its spendable wallets and igniting rumors of a possible settlement in the continuing SEC dispute.
Originally moving 1.1 billion XRP to new wallets, Ripple locked 800 million XRP back into escrow. They later moved another 100 million XRP, leaving 300 million XRP available for future use.
Of course, questions develop. Is this an indication of a possible SEC lawsuit settlement? What is the endgame of Ripple here?
🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 300,000,000 #XRP (143,204,464 USD) locked in escrow at #Ripplehttps://t.co/Pp4qipncuh
— Whale Alert (@whale_alert) July 1, 2024
Whale Alert Highlights Massive Transfers
The crypto community was previously humming with a huge 200 million XRP transaction between two unknown accounts, worth more than $100 million. Prominent crypto-tracking tool Whale Alert recently reported other transactions carried out in two waves.
The first batch moved one billion XRP to three separate wallets. Not too long later, 800 million XRP locked once more in escrow. Ripple freed 500 million XRP and distributed further in the second wave of transactions, leaving 1.3 billion XRP separated for any liquidity needs.
These notable XRP fluctuations have spurred debates on a prospective SEC vs. Ripple litigation settlement, recently entering the remedies phase.
While Ripple contends for a far smaller charge, the SEC requests a whopping $1.95 billion penalty. Public and financial speculation points to these behaviors as perhaps indicating readiness for a settlement agreement.
With a 0.96% increase over the past 24 hours, XRP’s price at the time of writing is at $0.4856, according to CoinMarketCap. This price movement could be a reflection of the market’s expectation of a possible outcome in Ripple’s benefit.
Previously, CNF highlighted Ripple’s rise as a major winner in the XRP. The non-security status of XRP becomes the “Law of the Land.”
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