Ripple's recent transfer of 100 million XRP has ignited significant discussion within the crypto community, coming shortly after the company secured a stay order on a $125 million settlement in its ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). The transaction has gained further attention due to mounting speculation that the SEC is preparing to file an appeal in the XRP case.
Ripple Moves 100M XRP Amid SEC Appeal Speculation
On September 6, Whale Alert, a popular crypto transaction tracker, reported that Ripple had moved 100 million XRP—worth approximately $54 million—to an unknown wallet. This transaction has raised eyebrows, especially in light of recent legal developments surrounding Ripple’s lawsuit with the SEC.
In addition to this major transfer, Whale Alert also noted another transaction involving 31.12 million XRP ($16.9 million), which was accumulated from the Orbit exchange by an unidentified address. Meanwhile, a well-known whale account, labeled ..Rzn, continued its pattern of selling large amounts of XRP, dumping nearly 56 million coins on the Bitstamp and Bitso exchanges.
Ripple Secures $125 Million Stay Order as SEC Eyes Appeal
Ripple’s transfer comes after Judge Analisa Torres granted the company’s request for a stay on the $125 million penalty, following an agreement with the SEC. This move has sparked speculation that the SEC is gearing up to file an appeal, as putting the settlement on hold suggests that the final judgment in the lawsuit is not yet imminent.
Legal experts, including Fred Rispoli, James Farrel, and Marc Fagel, have expressed confidence that an SEC appeal is likely. In light of this, Ripple’s 100 million XRP transfer has drawn significant attention. One market analyst noted that the stay order means Ripple has placed the $125 million in escrow as a form of insurance, hinting that the legal battle is far from over.
XRP Price Action and Market Sentiment
As of press time, XRP has seen a price dip of nearly 3%, trading at $0.5392. The token’s intraday low and high were recorded at $0.5411 and $0.5548, respectively. Ripple’s massive transfer comes at a time when XRP has struggled to maintain the $0.56 level.
According to analysis from CoinGape, XRP has remained relatively stagnant near the $0.56 mark for some time. However, anticipation around Ripple’s upcoming RLUSD stablecoin has generated optimism about XRP’s long-term potential. Despite this, data from Coinglass revealed a 0.43% drop in futures open interest (OI) to $591.67 million, along with a 5% decline in derivatives volume to $767.66 million, signaling investor uncertainty about the token’s future price action.
As the Ripple-SEC lawsuit continues to evolve, market participants remain focused on how future legal developments could impact XRP and the broader crypto market.
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