302 Million XRP Shifted As Settlement Rumor in the Ripple-SEC Case Turns Out False

XRP whales continue to accumulate and move hefty amounts of the XRPL native token as the crypto market continues to dump. The ongoing XRP lawsuit involving Ripple and the SEC seems to not be bothering XRP investors as they remain bullish.

According to the leading crypto tracking and blockchain analytics platform, Whale Alert, a total of 302,413,843 units of XRP were shifted by whales in the past 24 hours.

Notably, this huge amount of the XRPL native tokens were moved in two transactions only and was worth approximately $311 million, at the time of execution.

In one of the transactions, 35,000,000 XRP worth $13,214,453 was transferred from an unknown wallet to Bitstamp.

Whereas in the second transaction, 267,413,843 XRP worth $97,775,558, at the time of execution, was shifted in a wallet-to-wallet transfer.

False Settlement Rumor in Ripple-SEC Case

As earlier reported by Times Tabloid, Cardano founder Charles Hoskinson noted that a settlement in the XRP lawsuit where the SEC is the plaintiff and Ripple is the defendant would be catastrophic to the crypto industry.

In like manner, January Walker, a United States Congress candidate, echoed that the crypto solution company and its executives settling with the SEC would be a loss for the world and web3.

Still on the settlement topic. Charles Hoskinson said earlier this week that there is a rumor in circulation, predicting that Ripple and the U.S SEC would settle on December 15. Eventually, this claim turned out to be false as previously stated by Eleanor Terrett on Sunday.

Instead, on December 15, James K. Milan, a former federal prosecutor, and a staunch XRP proponent updated that Attorney Rodrigo Seira has filed a Motion to appear Pro Hac Vice on behalf of Amicus Curiae Paradigm Operations LP.

However, Attorney Jeremy Hogan, the founder of Hogan and Hogan Law Firm noted that the development was pointless. He wrote, “It’s just an attorney for an Amicus brief filing a request with the court to be able to file stuff in the case. Seems pointless at this point since there’s not much to be done.”

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Ndianabasi Tom

Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.