- XRP has seen more than a 40% surge in the last two weeks, driven by the anticipation of an imminent lawsuit settlement.
- The speculation is fuelled by recent whale activities, including massive transfers of XRP tokens.
- Ripple CEO Brad Garlinghouse believes Judge Torres’ XRP ruling is crucial for the settlement.
Ripple’s XRP has surged more than 40% in the past two weeks, outperforming major cryptocurrencies like Bitcoin, amid growing speculation of an imminent settlement in the ongoing lawsuit between Ripple and the U.S. SEC.
Recent developments, including massive XRP transfers, have further fueled speculation that a resolution may be near.
This recent uptick in XRP is also fueled by speculation of an imminent settlement between Ripple and U.S. regulators. Recent developments within the XRP ecosystem, including massive XRP transfers, hint at a potential resolution to the Ripple-SEC lawsuit. The Securities and Exchange Commission sued Ripple in 2020, alleging the sale of unregistered securities. While the lawsuit has progressed, a final conclusion remains pending.
Judge Analisa Torres’ ruling last year marked a significant victory for Ripple and the crypto industry. Her determination that secondary sales of XRP do not constitute securities has had far-reaching implications for lawsuits involving various crypto firms. Ripple CEO Brad Garlinghouse believes this ruling is pivotal in settling the Ripple lawsuit, as he commented in a Bloomberg interview.
Fueling speculation, Whale Alert reported massive XRP token movements across multiple wallets. Today’s earliest reports detail two separate transactions involving the transfer of 21,040,000 XRP (worth $12,954,446) and 22,685,000 XRP (worth $13,953,596) by an unknown wallet to Bitso and Bitstamp . Another notable transaction involved a Binance-connected account moving 23,272,785 XRP (valued at $14,418,302) to an unknown wallet.
Currently, XRP is priced at $0.6094, up 3.83% in a day. The token has experienced impressive gains over the past week and month, surging 37.87% and 23.83%, respectively.
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