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Lip-stinging Ripple (XRP) transfer: Is the whale going to sell?
Blockchain payment company Ripple transferred 200 million Ripple (XRP) to an unidentified wallet.
This movement is said to be related to Ripple's ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC), but the exact reason remains unclear. Ripple, which has been in a battle with the regulatory agency for some time, has worried its investors with this transfer development.
The SEC continues to press Ripple (XRP)
As the legal battle between Ripple and the SEC reaches a critical stage, the company's chief legal officer, Stuart Alderoty, expressed positive expectations regarding the upcoming decision of the US Second Circuit Court of Appeals. Alderoty said he believes the court will affirm or expand Judge Analisa Torres's previous decision in favor of Ripple. He considered the likelihood of the SEC's appeal efforts being successful to be low.
Alderoty also highlighted the importance of Ripple's "Fair Notice Defense" against the SEC's claim that XRP is an unregistered security. This defense is based on the fact that Ripple did not receive clear warning in advance that its actions were illegal. Alderoty criticized the SEC's persistent stance in the case by likening it to Captain Ahab of Moby Dick.
On the other hand, the fact that Ripple's founder Chris Larsen donated $10 million to a super PAC supporting US Vice President Kamala Harris' campaign has led to the connection of the transfer to political purposes. However, these allegations have not been confirmed yet. It is thought that the final decision in Ripple's case could influence future regulations in the crypto market in the US.
This article does not contain investment advice or recommendations. All investment and trading activities involve risks, and readers should conduct their own research when making decisions.