Ripple
October 7, 2024
Ripple Unicorn News - October 07, 2024
Whale Alert reports the transfer of 153 million XRP in significant transactions as the SEC files an appeal against a recent court ruling involving Ripple. This episode delves into the details of these transactions and their potential impact on Ripple's market position.
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) Introduction(
) Whales Move 153 Million XRP as SEC Appeals Judgement in Ripple LawsuitOn October 6, 2024, a notable movement of XRP tokens was observed, with Whale Alert reporting the transfer of 153 million XRP across three transactions. These transactions involved the transfer of 30.38 million XRP to the Bitso exchange, 19.22 million XRP to the Bitstamp exchange, and a significant 104.38 million XRP to an anonymous address. This activity is particularly significant as it coincides with the U.S. Securities and Exchange Commission (SEC) filing a Notice of Appeal against a court ruling from August 7, 2024. The ruling had imposed a $125 million fine on Ripple, a major player in the cryptocurrency market. The timing of these large-scale XRP transfers amidst the SEC's ongoing legal actions raises questions about the potential market reactions and the broader implications for Ripple and its stakeholders. This development underscores the regulatory challenges facing Ripple and the cryptocurrency sector, highlighting the potential impact of legal proceedings on digital asset transactions and market behavior.
Sources
1 https://techreport.com/news/whales-move-153-million-xrp-as-sec-appeals-judgement-in-ripple-lawsuit/
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