XRP Whale Transfers 129 Million XRP Amid Ripple Vs SEC Lawsuit Speculation
The post XRP Whales Transfer 129 Million XRP Amid Ripple Vs SEC Lawsuit Speculation appeared first on Coinpedia Fintech News
Ripple Labs is in a legal dispute with the SEC regarding cryptocurrency regulations. Former SEC litigator Linda Steward suggested taking the case to the Supreme Court. Bill Morgan argues that the token itself represents security. Meanwhile, the SEC plans to increase transaction fees for public companies due to budget shortfalls. Ripple, on the other hand, is preparing its response to the SEC's penalty request on April 22.
The recent transfer of 62 million worth of XRP tokens by large investors was seen as a positive sign for Ripple's XRP amidst the Ripple vs SEC lawsuit. The transfer totaled $31.22 million and temporarily increased confidence in XRP's viability. Now, a similar transfer with a much larger amount is visible again.
XRP Whales Move 129 Million XRP Amid Ripple Vs SEC Lawsuit Speculation
A significant XRP whale moved 129 million XRP, fueling speculation in the crypto market as Ripple faces a critical phase in its lawsuit with the SEC. One of the notable transactions was an unknown whale transferring 28.8 million XRP to Bitstamp. This has led to debate over whether this is a sell-off or part of Ripple's liquidity management.
Additionally, another 100 million XRP was transferred between two unknown wallets, adding further to the community discussion. As Ripple prepares to respond to SEC allegations, today's filing is expected to influence market sentiment and XRP price trajectory. This transaction has added to speculation in the XRP community about Ripple's position and market sentiment ahead of the outcome of the lawsuit.
Read more: XRP Price Milestone: Ripple CTO Touts 1500% Growth Over Seven Years
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