- Blockchain tracker Whale Alert detected transfer of nearly 90 million XRP tokens.
- Transferred 60 million XRP valued at $31 million to an unknown wallet.
- Legal developments favor Ripple, which maintains regulatory clarity.
Blockchain tracker Whale Alert detected the transfer of nearly 90 million XRP tokens worth over $45 million recently. The shifts come as new possibilities emerge in the long-running Ripple lawsuit following a denied appeal bid.
According to Whale Alert, Ripple transferred 60 million XRP valued at $31 million to an unknown wallet. Separately, an anonymous wallet moved 29 million XRP worth $15 million to cryptocurrency exchange Bitstamp.
The Ripple transaction likely relates to OTC trading or cross-border payments involving XRP as a bridge currency. The reasons behind the Bitstamp transfer are more ambiguous but could point to plans to sell or use the tokens within the exchange ecosystem.
XRP whale movements come amid new phase of legal battle with SEC
The developments occur just after the SEC’s request for an early appeal was rejected by the presiding judge. This hands a preliminary victory to Ripple, with the status quo favorable to the company remaining in place.
Attorney Jeremy Hogan outlined potential scenarios going forward, assigning low odds of resolution before 2025-2026 given the timeline for appeals.
The SEC could settle with the individual defendants, then move to finalize judgment against Ripple and lodge an appeal. But remedies and litigation could still extend the case deep into 2026.
Meanwhile, Ripple maintains regulatory clarity that transacting XRP does not constitute an illegal securities sale. The company can continue leveraging this advantage as long as the suit persists.
For XRP traders, the major token shifts may herald increased volatility around developments in the case. But fundamentally, Ripple continues cementing its position as the legal battle inches forward.
