Ripple’s recent actions involving its XRP holdings have sparked speculation about the possibility of a settlement in its ongoing dispute with the SEC. On July 1, Ripple released 1 billion XRP from escrow, while retaining 1.3 billion XRP in its spendable wallets. This move has raised questions about the company’s intentions and whether it is preparing for a potential settlement with the SEC.
Initially, Ripple transferred 1.1 billion XRP to new wallets, but then locked 800 million XRP back into escrow. Later, they moved an additional 100 million XRP, leaving 300 million XRP available for future use. This has led to speculation about the nature of Ripple’s actions and what they may signify in terms of a settlement with the SEC.
Whale Alert, a prominent crypto-tracking tool, recently highlighted a significant transfer of 200 million XRP between two unknown accounts, valued at over $100 million. This transaction, along with other transfers reported by Whale Alert, has further fueled discussions about a potential settlement between Ripple and the SEC.
The first batch of transfers involved moving one billion XRP to three separate wallets. Shortly after, 800 million XRP was locked back into escrow. Ripple then released 500 million XRP in a second wave of transactions, while keeping 1.3 billion XRP separate for potential liquidity needs. These fluctuations in XRP holdings have prompted debates about a possible settlement between Ripple and the SEC, especially as the case enters the remedies phase.
Ripple is currently contesting the SEC’s request for a $1.95 billion penalty, arguing for a much smaller charge. The market’s reaction to these actions suggests that investors and traders may be anticipating a favorable outcome for Ripple. At the time of writing, XRP’s price has increased by 0.96% over the past 24 hours, reaching $0.4856, according to CoinMarketCap.
In a previous report, CNF highlighted Ripple’s success in establishing XRP as a non-security asset, which has become widely accepted in the cryptocurrency industry. This development has further bolstered Ripple’s position and may play a role in any potential settlement agreement.
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