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.

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.