Mysterious XRP Transfers Spook Investors

Krutika Adani

Mysterious Move

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.

Is Ripple Willing to Pay the SEC’s Fine?

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.

No Impact on Market Price

The transfers have not yet impacted the market price of XRP which seems stable in the range of $0.50 to $0.55.

Might Not be a Selloff

It has been speculated that the movement might be an internal one.

XRP Poised for a Short-Term Gain

Despite the movement, XRP seems a ripe candidate for a short-term rally from $0.51 to $0.6.