SEC vs Ripple Heats Up Again? 200M XRP Moved, Here's Why!

Bittime - Ripple recently transferred 200 million XRP worth $117 million, fueling speculation amid a potential US SEC appeal in the ongoing case. What impact will this have on the XRP price? Check out the explanation here.

Whatus SEC vs Ripple has been a hot debate in the crypto world for years. Recently, Ripple made a transferr a massive 200 million XRP, which is worth around $117.61 million. According to a report from Whale Alert, this transfer was made to an unknown wallet, identified by the address "rP4X2...sKxv3." This sparked various speculations regarding the purpose of this fund transfer.

Speculation over XRP Transfer

Many in the crypto community speculate that this transfer is closely related to Ripple's strategy in facing their legal case with the SEC. Ripple itself has made similar large transfers several times before, including a transfer of 150 million XRP on September 13. Until now, the exact purpose of this transfer is still unclear, but many believe it is related to preparations for a potential appeal from the SEC.

Speculation is increasing as this transfer comes amid rising tensions over the US SEC's appeal regarding the XRP case. In an earlier ruling, Ripple was ordered to pay a fine of $125 million, far lower than the SEC's initial demand of $2 billion. However, with the possibility of an SEC appeal still open, this massive transfer is prompting more questions.

Also read: EIGEN Token Transfer Restrictions will be Lifted on September 30, 2024

Potential SEC Appeal and Impact on XRP

Thetheir SEC vs Ripple has been a major highlight in the crypto industry, especially regarding the legal status of XRP. Although many see the initial ruling as a victory for Ripple, former SEC lawyers, such as Marc Fagel and James Farrell, predict that the SEC still has time to appeal. This potential appeal could take the Ripple case back to trial, fueling further uncertainty.

Meanwhile, XRP price is currently trading near $0.5875 with trading volume surging by 23%. This surge signals increased market interest in XRP, although the future of this asset is still heavily influenced by further developments in the Ripple legal case. Thus, the movement of 200 million XRP price in time front.

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