The post Ripple News: Is Chris Larsen Prepping for a Legal Showdown with 18M XRP Move? appeared first on Coinpedia Fintech News
Ripple’s Chairman Chris Larsen has again stirred up the XRP market, transferring a whopping 18 million XRP to Binance and Bittrex. This move continues a pattern observed over the past few months, with Larsen shifting significant amounts of XRP, prompting speculation from investors and analysts. On Monday, 3 million XRP found its way to Binance, while a hefty 15 million XRP was moved to a Bittrex-activated wallet.
Larsen's remaining 18M XRP was just sent as two transactions: 3M to same Binance address as yesterday; and 15M to a Bittrex activated wallet (still there). Preliminary checks reveal the 15M will be sent to Binance as well.https://t.co/XRPBuQlZqu https://t.co/pb5qH4ddsL pic.twitter.com/YM1FBMsuhj
— XRP_Liquidity (Larsen/ODL Tracking) (@XRPwallets) September 23, 2024
What’s going on? Let’s understand.
Ongoing XRP Moves and Speculation
This isn’t the first time Larsen’s XRP transfers have drawn attention. Just last week, he shifted 20 million XRP, following an earlier move of 50 million XRP earlier this month. These consistent large-scale transactions have kept the XRP community buzzing, with many wondering about the motivation behind these frequent transfers. Could this be a liquidity strategy, or are they personal portfolio adjustments?
Legal Tensions and Ripple’s Regulatory Stand
The timing of Larsen’s moves is significant, as they come amid growing speculation that the SEC might file an appeal in its lawsuit against Ripple. Market observers suspect that these token shifts might be Ripple’s way of preparing for regulatory outcomes or other market disruptions. Adding fuel to the fire, Ripple recently transferred 200 million XRP (worth about $117 million) to an undisclosed wallet, hinting at larger strategic moves, possibly tied to an ETF swap.
XRP Market Impact: What’s Next?
As XRP stands at $0.5865, with a modest 0.29% uptick over the last week, investors are closely watching how Larsen’s moves could influence XRP’s liquidity and volatility. While the token has shown resilience, the ongoing transfers and looming legal battles keep market participants on edge. XRP movements signal a major market shift on the horizon. The next steps from Ripple could provide the answers.
