#Ripple💰 Moves 200M $XRP As Speculations Mount Over US SEC's Lawsuit Appeal
Ripple Transfers 200 Million XRP, Fueling Speculation in the #Cryptocommunity
- Ripple has recently made headlines by transferring 200 million XRP, valued at approximately $117 million, sparking discussions about its potential impact on the cryptocurrency's price. The transfer, tracked by Whale Alert, was sent to an unknown wallet with the address “rP4X2…sKxv3.” This isn’t the first time Ripple has made significant transfers to this wallet; they previously moved 150 million XRP to the same address on September 13.
- While there are speculations that the wallet might be linked to Ripple, the exact purpose of this latest transfer remains unclear, leading to various debates within the crypto community.
Timing Raises Questions Amid SEC Speculations
- The timing of the transfer is particularly noteworthy, as it coincides with increasing speculation regarding a potential last-minute appeal by the U.S. Securities & Exchange Commission (SEC) in the ongoing XRP case. Recently, Ripple received a stay order from the court regarding a $125 million penalty imposed by the SEC, which has added to the tension.
- The Ripple vs. SEC lawsuit has been a major topic of discussion in the crypto world. Although the legal battle concluded last month with Judge Torres reducing the SEC's penalty demand from $2 billion to $125 million, there are growing concerns about a possible appeal by the SEC. Former SEC attorneys Marc Fagel & James Farrell have suggested that an appeal is likely, as the agency still has two weeks to file.
Market Reaction & XRP Price Performance
- In the midst of this uncertainty, XRP's price has remained relatively stable, trading near $0.5875. Its trading volume has surged by 23%, reaching $1.05 billion, with a 24-hour high of $0.5952. Additionally, CoinGlass data indicates a 2.3% increase in XRP Futures Open Interest, reflecting a growing market sentiment toward the cryptocurrency.
Source - coingape.com
