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