Ripple (XRP) Sparks Speculations After Transferring 200 Million XRP Amid Potential US SEC Appeal

Ripple has recently transferred 200 million XRP sparking discussions in the crypto community. The latest transfer by the blockchain firm, valued at around $117 million, comes amid growing speculations over a potential last-minute US SEC appeal in the XRP case.

Cryptocurrency giant Ripple has recently carried out another large-scale transfer of XRP, sparking discussions within the crypto community. The latest transfer, valued at around $117 million, comes amid growing speculations over a potential last-minute US SEC appeal in the XRP case.

According to Whale Alert, a leading on-chain transaction tracking platform, Ripple shifted 200 million XRP. The transfer, worth about $117.61 million at the time, was made to an unknown wallet, identified by the address “rP4X2…sKxv3”.

It’s worth noting that the blockchain firm has made hefty transfers to this same wallet previously, sparking further speculation. According to XRPScan report, the leading blockchain company has moved 150 million XRP earlier on September 13.

Moreover, looking at the recent transfers of the wallet, many have linked the wallet with the firm. However, the actual reason behind the transfer is still unknown, which has triggered debates in the crypto community.

The timing of the transfer is also crucial, as it comes amid speculations over a potential last-minute appeal by the US SEC in the XRP case. Ripple has also received a stay order from the court to hold its $125 million penalty to the SEC recently.

The Ripple Vs SEC lawsuit has been a hot topic in the crypto space for years. However, the legal battle concluded last month, with Judge Torres ordering the blockchain firm to pay $125 million in penalty to the agency, down from the SEC’s initial demand of $2 billion. Many in the crypto community see this judgment as a potential win for the firm.

However, speculations mount over a potential US SEC appeal in the XRP case. According to ex-SEC lawyers Marc Fagel and James Farrell, the agency is highly likely to file an appeal in the XRP lawsuit. As the agency still has two more weeks to file an appeal, the discussions are soaring over a potential appeal by the agency.

Meanwhile, XRP price traded nearly flatline at $0.5875, with its trading volume soaring 23% to $1.05 billion. Notably, the crypto has touched a 24-hour high of $0.5952. Furthermore, CoinGlass data showed that the XRP Futures Open Interest soared 2.3%, indicating a growing market sentiment towards the crypto.

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