The ongoing legal battle between Ripple and the SEC continues to heat up, with recent XRP wallet activity fueling speculation of a potential settlement. According to Whale Alert, a leading crypto tracking platform, Ripple unlocked 1 billion XRP from escrow in July but retained a significant portion – 1.3 billion XRP – in its spendable wallets. This move has sparked debate within the crypto community, with many interpreting it as a sign of potential settlement funds.
Breakdown of Ripple’s Recent XRP Transactions
The intriguing development unfolded across two distinct batches of transactions:
- Batch 1: This initial set involved seven fund movements totaling 1.1 billion XRP. Here’s a closer look:
- 1 Billion XRP Transferred: Ripple distributed these funds across three separate wallets – “rBg…91m” received 200 million XRP, “rDd…eCK” received 300 million XRP, and “rKD…2op” received 500 million XRP.
- 800 Million XRP Locked in Escrow: Interestingly, just minutes after these transfers, Ripple locked up a significant portion (800 million XRP) back into escrow from the receiving wallets “rDd…eCK” and “rKD…2op”.
- Additional 100 Million XRP Transferred: Further adding to the intrigue, Ripple sent an additional 100 million XRP to “rBg…91m,” bringing its final balance to 300 million XRP.
- Batch 2: The second batch involved the anticipated monthly escrow unlock, where Ripple unlocked a total of 1 billion XRP distributed across two addresses: “rDq…EsF” (500 million XRP) and “rw2…3wY” (500 million XRP in two separate transactions).
Speculation Mounts Over Potential SEC Settlement
The decision to retain 1.3 billion XRP in spendable wallets, particularly the transfer to “rBg…91m” – an address historically linked to fund liquidations – has ignited speculation within the crypto community. Many interpret this as a potential sign that Ripple is preparing a war chest for a possible settlement with the SEC.
Also Read: XRP Legal Status: 62% Of Experts Agree With Ripple CEO After CoinDesk Misfire
Ripple vs. SEC Lawsuit Update: Remedies Phase in Progress
The ongoing legal battle between Ripple and the SEC has entered the remedies phase, where both parties are arguing for their desired outcomes. The SEC is seeking a hefty $1.95 billion, including disgorgement and civil penalties, while Ripple maintains that the penalty should be capped at $10 million. With the court’s final decision pending, these recent XRP movements add another layer of complexity to the already intricate legal battle.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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