Ripple Shifts $54M in XRP as SEC Prepares Appeal

On Friday, Ripple, a prominent American blockchain payments firm, executed a significant transfer of 100 million XRP, valued at approximately $54 million.

This large movement coincides with ongoing developments in Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC), which has recently indicated a potential appeal.

Ripple’s transaction, tracked by Whale Alert on September 6, involved moving the coins to an unknown address.

This move comes as the SEC has agreed to a stay order on a $125 million settlement, which has fueled speculation about the possibility of an appeal. The stay allows Ripple to hold off on paying the settlement while the legal proceedings continue.

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Additionally, Whale Alert reported other notable movements in the market, including 31.12 million XRP from the Orbit exchange and continued selling of nearly 56 million XRP by a well-known whale. Ripple’s large transaction and the ongoing legal uncertainties have drawn considerable attention from the crypto community.

Ripple’s XRP was trading at $0.5392, having decreased by about 3% recently. Despite the current price drop, market analysts are watching closely for any future developments, especially with the anticipated launch of the RLUSD stablecoin, which may positively impact XRP’s long-term prospects.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.