search
Homeweb3.0Ripple-Associated Wallet Moves 100 Million XRP Amid Legal Heat

Ripple-Associated Wallet Moves 100 Million XRP Amid Legal Heat

Sep 19, 2024 pm 09:47 PM
ripple XRP SEC Appeal Wallet

According to Whale Alert, a notable tracking platform, an address associated with Ripple conducted a substantial transfer of XRP today.

Ripple-Associated Wallet Moves 100 Million XRP Amid Legal Heat

A wallet linked to Ripple moved 100 million XRP on October 3, transferring 19.7 million tokens to the Bitso exchange. This significant transaction was highlighted by Whale Alert.

The XRP transfer has sparked concerns within the community as it coincides with ongoing Ripple regulatory challenges. Notably, the approaching deadline for the SEC's appeal on October 6 has increased speculations.

Ripple-Associated Wallet Moves 100 Million XRP Amid Legal Heat

An address associated with Ripple conducted a substantial transfer of XRP today, as noted by Whale Alert, a prominent tracking platform. The transaction involved moving 100 million XRP to an unknown wallet.

Following the initial transfer, the wallet rhWt.. sent 19.957 million XRP to another Ripple wallet, which promptly distributed these funds to various exchanges. The largest chunk, 19.7 million XRP, went to Bitso, and a smaller parcel of 257,000 XRP was sent to Bitstamp.

This transfer is noteworthy as it aligns with a critical period for Ripple in the SEC lawsuit. With the appeal deadline approaching, the wallet could be related to Ripple lawyers preparing to release the trust fund. This is especially because Judge Torres approved the XRP company to hold off the $125 million payment and the fund kept in trust until clarity on appeal by Oct. 6.

Moreover, data from Bithomp reveals that the wallet involved has been persistently active, engaging in several transactions over the week. This includes a previous transaction on September 17, where 50 million XRP were moved to the same recipient wallet, suggesting a pattern in the wallet's activity amidst regulatory scrutiny.

The speculation extends to the possibility of a sell-off, especially with the subsequent movement of part of the transferred XRP to exchanges.

Market Response and Speculation

Following the transaction, XRP value exhibited a modest increase. XRP price was at $0.5843 which is 8.40% up from the position it was a week ago at the time of writing. Even more, the trading volume of XRP surged in the last 24 hours hitting $1.27 billion, a 28.6% increase. This increase in trading volume and price reflects increased market activity and investor interest in XRP.

As the deadline for the Ripple vs SEC appeal nears, XRP price has shown positive sentiments. According to CoinGape analysis, if Ripple captures 50% of global remittance, XRP price could break to $5.

The above is the detailed content of Ripple-Associated Wallet Moves 100 Million XRP Amid Legal Heat. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Exchange trading volume and world rankings, what are the main contractsExchange trading volume and world rankings, what are the main contractsApr 30, 2025 pm 06:45 PM

Exchange trading volume and world rankings are key indicators for evaluating their market influence. Contract trading provides a diverse strategy and risk management tool. Choosing the right contract type requires personal risk tolerance.

Funding fees for perpetual positionsFunding fees for perpetual positionsApr 30, 2025 pm 06:42 PM

The funding fee for a perpetual position is the fee that the holder needs to pay or charge in perpetual contract trading. It is usually calculated every eight hours, affecting the trader's profit and loss and strategy.

Shib History K-lineShib History K-lineApr 30, 2025 pm 06:39 PM

SHIB's historical K-line chart shows its price volatility and market sentiment, helping investors analyze trends and make decisions, but failing to accurately predict future prices.

Which exchange is better for quantitative currency circleWhich exchange is better for quantitative currency circleApr 30, 2025 pm 06:36 PM

In quantitative trading in currency circle, choosing the right exchange is crucial, and liquidity, API support, fee structure, security and regulatory compliance should be considered.

What is the core difference between Huobi's previous Huoxin and OKX's current pay?What is the core difference between Huobi's previous Huoxin and OKX's current pay?Apr 30, 2025 pm 06:33 PM

Neither Huoxin nor OKX Pay directly supports fiat currency payment. Huoxin is mainly used for digital asset management and transactions, and users need to exchange fiat currency through the Huobi Exchange; OKX Pay focuses on digital asset payment and transfer, and users need to exchange fiat currency through the OKX platform.

How to cash out the valuation of total assets in the currency circle? How to withdraw cash to WeChat?How to cash out the valuation of total assets in the currency circle? How to withdraw cash to WeChat?Apr 30, 2025 pm 06:30 PM

The core steps of asset monetization include: 1. Select a compliant trading platform, such as Binance and OKX, to ensure that the platform has a fiat currency withdrawal channel; 2. Sell cryptocurrency and trade through spot or OTC; 3. Bind the collection account, which must be consistent with WeChat's real-name information; 4. To initiate withdrawal to WeChat, pay attention to the amount of cash withdrawal and handling fees.

What are the three giants in the currency circle? Top 10 Recommended Virtual Currency Main Exchange APPsWhat are the three giants in the currency circle? Top 10 Recommended Virtual Currency Main Exchange APPsApr 30, 2025 pm 06:27 PM

In the currency circle, the so-called Big Three usually refers to the three most influential and widely used cryptocurrencies. These cryptocurrencies have a significant role in the market and have performed well in terms of transaction volume and market capitalization. At the same time, the mainstream virtual currency exchange APP is also an important tool for investors and traders to conduct cryptocurrency trading. This article will introduce in detail the three giants in the currency circle and the top ten mainstream virtual currency exchange APPs recommended.

How to view the created nftHow to view the created nftApr 30, 2025 pm 06:24 PM

View your own NFTs on OpenSea, just log in to your account, go to your profile page, and click on the “Created Projects” tab to browse and manage all NFTs.

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

EditPlus Chinese cracked version

EditPlus Chinese cracked version

Small size, syntax highlighting, does not support code prompt function

SAP NetWeaver Server Adapter for Eclipse

SAP NetWeaver Server Adapter for Eclipse

Integrate Eclipse with SAP NetWeaver application server.

ZendStudio 13.5.1 Mac

ZendStudio 13.5.1 Mac

Powerful PHP integrated development environment

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment