- Whale Alert identified a transaction involving 90 million XRP tokens worth $45 million.
- Ripple moved 60 million XRP to an unidentified wallet, worth $31 million.
- An undisclosed wallet transferred 29 million XRP to Bitstamp cryptocurrency exchange.
Whale Alert, a blockchain tracking tool, recently identified a transaction involving approximately 90 million XRP tokens valued at more than $45 million. This transaction coincides with the emergence of new developments in the ongoing Ripple lawsuit after the rejection of an appeal attempt.
Whale Alert reports that Ripple
The Ripple transaction is probably connected to Over-the-Counter trading or international payments that use XRP as an intermediary currency. The motives for the Bitstamp transfer are unclear but may indicate intentions to sell or utilize the tokens within the exchange’s infrastructure.
XRP whale movements evolve amid new phase of SEC lawsuit
The recent advancements took place immediately following the denial of the SEC’s petition for an expedited appeal by the overseeing judge. This initial triumph is awarded to Ripple, as the current situation, which is advantageous to the firm, continues to persist.
Lawyer Jeremy Hogan has detailed possible future scenarios, indicating a low probability of settlement before 2025-2026 due to the expected timeline for appeals.
The SEC can settle with the individual defendants, subsequently proceeding to conclude judgment against Ripple and initiate an appeal. However, litigation and seeking remedies could prolong the case well into 2026.
In the interim, Ripple upholds the regulatory clarity that the transaction of XRP does not equate to an unlawful securities sale. As long as the lawsuit continues, the company can persist in capitalizing on this benefit.
For those trading XRP, significant token fluctuations could indicate heightened volatility due to progress in the lawsuit. However, Ripple is steadily solidifying its standing as the legal proceedings gradually advance.
