Ripple’s recent movements of XRP suggest that they may be preparing for a potential settlement in their ongoing dispute with the SEC. Speculations have arisen as Ripple retains 1.3 billion XRP, unlocking 1 billion XRP from escrow on July 1. This action has sparked rumors of a settlement, as Ripple moved 1.1 billion XRP to new wallets, re-locking 800 million XRP into escrow. They later transferred another 100 million XRP, leaving 300 million XRP available for future use.
Many questions have emerged regarding Ripple’s intentions and whether this indicates a possible settlement with the SEC. The crypto community has been buzzing about a massive transfer of 200 million XRP, worth over $100 million, between two unknown accounts. Whale Alert, a prominent crypto-tracking tool, reported additional transactions in two waves.
The first wave involved the movement of one billion XRP into three separate wallets. Shortly after, 800 million XRP was locked back into escrow. In the second wave, Ripple released 500 million XRP and distributed it further, while reserving 1.3 billion XRP for potential liquidity needs.
These significant fluctuations in XRP have sparked discussions about a potential settlement between the SEC and Ripple, especially as the litigation enters the remedies phase. Ripple is contending for a much smaller charge, while the SEC is seeking a penalty of $1.95 billion. The public and financial speculation suggests that these actions may indicate Ripple’s readiness to reach a settlement agreement.
At the time of writing, XRP has experienced a 0.96% increase in price over the past 24 hours, reaching $0.4856, according to CoinMarketCap. This price movement could reflect the market’s anticipation of a favorable outcome for Ripple.
Previously, CNF highlighted Ripple’s success as a major player in the XRP market, with XRP being recognized as a non-security. This status has become widely accepted.
If you’re interested in Ripple (XRP), you may want to read our guide on buying Ripple or our Ripple XRP wallet tutorial. You can also check the 24-hour XRP price and find more Ripple (XRP) news.
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