News View Non-AMP

XRP Whale Transfers 129M XRP Amid Ripple Vs SEC Lawsuit Speculations

Published by
Qadir AK

Ripple Labs is in a legal battle with the SEC over cryptocurrency regulations. Former SEC litigator Linda Steward suggested the case might reach the Supreme Court. Bill Morgan argues that the token itself represents security. Meanwhile, the SEC plans to raise transaction fees for public companies due to budget shortfalls. Ripple, on the other hand, is preparing its response to the SEC’s penalty requests by April 22

A 62 million XRP token transfer by a major investor has been recently seen as a positive sign for Ripple’s XRP amid the Ripple vs SEC lawsuit. The transfers totalled $31.22 million and temporarily boosted confidence in XRP’s survival. Now, a similar transfer of a much bigger amount has been spotted again.

XRP Whale Moves 129M XRP Amid Ripple Vs SEC Lawsuit Speculations

A significant XRP whale moved 129 million XRP, sparking speculation in the crypto market as Ripple faces a critical phase in its lawsuit with the SEC. One key transaction saw an unknown whale transfer 28.8 million XRP to Bitstamp. It has led to debates over whether it’s a selloff or part of Ripple’s liquidity management. 

Additionally, another 100 million XRP was transferred between two unknown wallets, adding to the community’s discussions further. As Ripple prepares to respond to the SEC’s allegations, today’s filing is anticipated to influence market sentiment and XRP’s price trajectory. These transactions have added to speculation in the XRP community about Ripple’s position and market sentiment ahead of the lawsuit’s outcome.

Read more: XRP Price Milestone: Ripple CTO Touts 1500% Growth Over Seven Years

XRP Price Rises Above $0.50 Amid Ripple’s SEC Challenge

XRP’s price went up past $0.50 after Ripple said it would challenge the SEC’s request for $2 billion in fines. XRP holders are keen to see this as Ripple’s opportunity to fight back against the penalties. Ripple’s CEO, Brad Garlinghouse, is positive about the company’s future. Attorney Bill Morgan, supporting Ripple, mentioned that Ripple might face fines for not registering when selling XRP to big investors.

XRP’s Open Interest grew by more than 15%, showing traders are making long-term bets. XRP has passed the $0.50 mark and could reach $0.60 next. The Fisher Transform Indicator shows a positive change in the trend, and the Average Directional Index (ADX) shows a strong trend. But if XRP drops below $0.50 for the day, the positive view might change, with support likely at $0.4188 and $0.4117.

Read more: XRP Price to the Moon? Secret Meeting Ignites Hopes for Ripple vs SEC Lawsuit Settlement

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Time to buy XRP? $55 million of Asset Outflow from Exchanges

XRP, the native token of Ripple Labs, is gaining massive attention from long-term holders despite…

April 4, 2025

Crypto Market Hit New Lows—Investors Looking Elsewhere? Ozak AI’s $0.003 Entry Looks More Promising!

The crypto market has recently experienced a vast downturn, with most important projects such as…

April 4, 2025

BTC Price Volatility Spikes Up—Is it a Good Time to Buy Bitcoin?

The US markets are experiencing one of the massive pullbacks, with major stocks plunging by…

April 3, 2025

Forget PEPE – Influencer Pepe (INPEPE) is the Future of Meme Coins with Real Utility!

PEPE hopped its way to a $3.8 billion market cap, but its reign as a…

April 3, 2025

Ripple (XRP) Eyes $10 as Ruvi AI (RUVI) Captures Investor Attention with Huge Growth Potential During Presale Phase 1

Ripple’s (XRP) recent rally from $2.00 to $2.20 has sparked excitement among cryptocurrency enthusiasts. This…

April 3, 2025

How High Can Influencer Pepe Go? Expert Predictions for 2025-2030!

The crypto circus has a new ringmaster: Influencer Pepe (INPEPE). This Pepe-the-Frog-inspired token is making…

April 3, 2025