News

Ripple Labs Moves 150 Million XRP. Is A Conclusion To SEC Case Finally Here?

By Alex Ioannou

Last Updated: Jul 17, 2024

With the latest large-value transfer of XRP from Ripple Labs, theories for its intended use are all over. Also, check out the $99BTC presale.

XRPWith the latest large-value transfer of XRP from Ripple Labs, theories for its intended use are all over. Also, check out the $99BTC presale.

There is growing optimism that a settlement is on the horizon between Ripple and the US Securities and Exchange Commission (SEC). Recently, 150 million XRP tokens coins were moved from a Ripple Labs wallet to the notable ‘rP4X2’ wallet on 17th June 2024.

XRP Holders Anticipate End Of ‘Ripple v/s SEC’ Case

Data from blockchain analytics account, WhaleAlert, showed a transfer of 150 million XRP, (worth $87.49 million), from Ripple Labs to the unknown address rP4X2. This transaction in particular is fuelling theories over its potential motive.

Many in the community are pondering if this huge sum will be used to fund a final settlement with the SEC.

Notably, the ‘rP4X2’ wallet address has received similar, large amounts of XRP from Ripple Labs in the past.

EXPLORE: 3 Steps to Buy Ripple (XRP) Instantly – A Beginner’s Guide (2024)

Pro-XRP Lawyer Counts On A Win, Believes There Will Be No Settlement Figure

Meanwhile, pro-XRP lawyers Fred Rispoli & Bill Morgan have long been vocal about a final judgment in Ripple’s case with the SEC will come by the end of July or early August.

Last month, Morgan stated his belief that there will be no settlement figure as Ripple Labs has already won many key motions in the case.

 

Bullish Price Action For XRP

(COINGECKO)

As speculation rises on the outcome of this long stretched case, the native token of Ripple Labs has been rallying in recent days. Per CoinGecko data, XRP is up 39.6% over the past 7 days as it breached a key resistance level of $0.6 today, and is currently trading at $0.611.

Amid the growing speculation surrounding Ripple, trading volume for XRP is also going parabolic. On 15 July 2024, XRP registered $1.79 billion in trading volume and the very next day, its volume had almost doubled to $3.36 billion.

The $0.6 stick resistance level for XRP was recently breached. It will be a crucial level to hold with the ongoing Ripple v/s SEC battle reaches a climax.

With The Bull Market Back On The Menu – Get Paid To Learn With $99BTC Presale

As the market continues to heat up, our very own $99BTC token is about to hit a landmark $2.5 million raised during presale.

99Bitcoins aims to be a pioneer within the fast emerging Learn-to-Earn (L2E) sector. The project is designed to reward individuals for simply learning about crypto.

Moreover, the classic 99Bitcoins platform is integrating with BRC-20 to pioneer the L2E model on the Bitcoin blockchain.

The token is packed full of utility. One of the aspects of the token is holders progress through the curriculum and earn $99BTC tokens for their efforts. These tokens can then be redeemed for various rewards, including exclusive access to premium content, discounts on partner products and services, and even opportunities to participate in token holder events.

Don’t miss out and grab your bag before the next price increase, as the presale nears its conclusion.

PRESALE LINK

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Free Bitcoin Crash Course

  • Enjoyed by over 100,000 students.
  • One email a day, 7 days in a row.
  • Short and educational, guaranteed!

Why you can trust 99Bitcoins

10+ Years

Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.

90hr+

Weekly Research

100k+

Monthly readers

50+

Expert contributors

2000+

Crypto Projects Reviewed

Google News Icon
Follow 99Bitcoins on your Google News Feed
Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now!
Subscribe now
Disclaimer Icon
Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Alex Ioannou
Alex Ioannou
On-Chain Journalist

Alex is an aspiring writer focusing on the more degen side of the crypto world. Always on the lookout for the next hot narrative. Read More

Back to top