Ripple transferred 380M XRP, worth $915M, to an unknown wallet.
XRP price rallied 5%, boosted by NYDFS stablecoin approval.
SEC emergency meeting sparks XRP lawsuit settlement speculations.
Ripple Labs recently transferred 380 million XRP, valued at $915 million, to an undisclosed wallet, raising speculation across the crypto community. The transaction coincided with a 5% increase in XRP’s price, driven by Ripple’s significant regulatory milestone—the New York Department of Financial Services (NYDFS) approval of its stablecoin, RLUSD.
Market analysts have offered varied takes on this move. While some suggest it could be an internal reallocation, others view it as a precursor to a potential sell-off. This comes as Ripple achieves a critical step toward launching RLUSD, a stablecoin pegged to the U.S. dollar. CEO Brad Garlinghouse confirmed the approval on December 10th, calling it a major advancement for the company.
In effect, the approval allows Ripple to list RLUSD on major exchanges and partner platforms, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. This clears the way for its entry into the compe…
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