Ripple transfers 200 million XRP, worth $117 million, amid US SEC’s last-minute appeal in ongoing lawsuit, sparking talk of XRP price impact.
Ripple recently transferred 200 million XRP, stirring discussions within the crypto community. The transaction, valued at approximately $117 million, coincides with increasing speculation about a potential last-minute appeal by the US SEC in the ongoing XRP case.
Additionally, the move has led to debates about its possible effect on XRP’s price.
Ripple Transfers 200 Million XRP, Fueling Speculation
According to Whale Alert, a major platform for tracking on-chain transactions, Ripple transferred 200 million XRP.
The transfer, valued at around $117.61 million, was sent to an unidentified wallet with the address “rP4X2…sKxv3.”
Notably, Ripple has made similar large transfers to this same wallet before, intensifying speculation.
XRPScan reports that the blockchain company had moved 150 million XRP to this wallet on September 13.
While some believe the wallet may be linked to Ripple, the true purpose of the transaction remains unclear, sparking debates across the crypto space.
The timing of the transfer has also drawn attention, as it coincides with rumors of a possible SEC appeal in the XRP case. Recently, Ripple received a stay order from the court to delay its $125 million penalty payment to the SEC.
Speculation Rises Over Potential US SEC Appeal in XRP Case
The Ripple vs. SEC lawsuit has been a central issue in the crypto world for years.
The legal dispute reached a conclusion last month, with Judge Torres ordering Ripple to pay $125 million to the SEC, a significant reduction from the agency’s original $2 billion demand.
Many in the crypto community view the outcome as a win for Ripple.
However, there is growing speculation that the US SEC might file an appeal in the case. Former SEC attorneys Marc Fagel and James Farrell suggest that the agency is likely to challenge the ruling.
With two weeks remaining for the SEC to file an appeal, discussions about the possibility are intensifying.
Meanwhile, XRP’s price remained relatively stable at $0.5875, with a 23% increase in trading volume to $1.05 billion.
The cryptocurrency reached a 24-hour high of $0.5952. Data from CoinGlass also showed a 2.3% rise in XRP Futures Open Interest, indicating growing market interest in the asset.
