Krutika Adani
In a mysterious move, Ripple Labs has initiated a transfer of 3 billion XRP worth $1.5 billion from its escrow wallet to unknown addresses.
The movement is being seen as connected to the Ripple vs SEC case where the SEC seeks a fine of $2 billion from Ripple Labs.
The transfers have not yet impacted the market price of XRP which seems stable in the range of $0.50 to $0.55.
It has been speculated that the movement might be an internal one.
Despite the movement, XRP seems a ripe candidate for a short-term rally from $0.51 to $0.6.