• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Recent XRP Transaction Activities by Ripple and Speculations on SEC Settlement

user avatar

by Giorgi Kostiuk

2 years ago


Recent XRP Transaction Activities by Ripple

At the beginning of this month, the crypto world was shaken by a significant move from Ripple transferring 1 billion XRP coins from the escrow wallet.

This maneuver sparked speculation that progress may be on the horizon in the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC).

With 1.3 billion XRP now in accessible wallets, the crypto community is abuzz with anticipation regarding the outcome of this lawsuit.

Recent XRP Transaction Activities by Ripple

Whale Alert, a leading platform known for tracking large crypto transactions, reported that the company had moved XRP in extraordinary amounts within just two hours.

The company transferred 1.1 billion XRP to various wallets and then placed 800 million XRP back in escrow.

According to Coinspeaker reports, during this brief period, Ripple moved 200 million XRP to one wallet, 300 million XRP to another wallet, and 500 million XRP to a third wallet.

Following these transfers, the company secured 500 million XRP in one wallet and 300 million XRP in another, totaling 800 million XRP placed in escrow.

Furthermore, the company also added another 100 million XRP to one of these wallets, increasing its balance to 300 million XRP.

Overall, the transactions involved the transfer of 1.1 billion XRP to accessible wallets, with 800 million XRP then secured in escrow, leaving an accessible balance of 300 million XRP.

In a series of subsequent transactions an hour later, Ripple sent 500 million XRP to one wallet and split another 500 million XRP between two additional wallets.

Speculations on SEC Settlement

The recent series of XRP transactions has triggered speculation about the potential settlement in the long-standing legal battle between Ripple and the SEC.

While Ripple routinely manages XRP held in escrow, the recent transfer of an additional 300 million XRP to transaction wallets has garnered significant attention from the crypto community.

This activity coincides with the penalty phase in the Ripple vs. SEC lawsuit. Both parties have presented their positions on the penalties related to the alleged securities violations by Ripple.

The SEC is pushing for a total penalty of $1.95 billion, including $876 million for disgorgement, an equal amount in civil penalties, and $198 million in pre-judgment interest. In contrast, Ripple argues that the civil penalty should be limited to only $10 million.

The legal confrontation between Ripple Labs and the SEC has been ongoing for over three and a half years. The SEC accuses Ripple and its executives of violating securities laws by selling XRP without proper registration.

Significant developments in 2023, such as the court ruling that Ripple's automatic sales were not investment contracts, have weakened the SEC's position.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Network Burns Surge Above 3M, Supporting POL Price Dynamics

chest

The surge in network burns above 3 million POL reinforces the bullish price behavior and reduces supply.

user avatarAndrew Smith

POL Price Breaks Descending Trendline, Signals Bullish Reversal

chest

POL price analysis indicates a significant shift from a downtrend to a bullish phase, with strong momentum and rising network burns.

user avatarJacob Williams

Former French Tax Agent Sentenced for Data Breach

chest

Ghalia C, a former employee of the French tax administration, has been sentenced for leaking sensitive data on cryptocurrency investors, leading to criminal activities.

user avatarSon Min-ho

Buffett Indicator Reaches Historic Highs, Signaling Market Risks

chest

The Buffett Indicator has reached historic highs, indicating potential macroeconomic risks and influencing market sentiment.

user avatarZainab Kamara

Remittix Gains Attention with Fixed Rollout Date

chest

Remittix is gaining attention with its fixed rollout date set for February 9, 2026, attracting traders looking for reliable opportunities in the crypto market.

user avatarAyman Ben Youssef

Nikita Bier's Critique of Crypto Twitter Sparks Community Backlash

chest

Nikita Bier criticizes Crypto Twitter engagement habits, leading to backlash from community figures.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.