XRP Whales on the move as potential SEC vs. Ripple settlement looms

Ripple’s large-scale investors caught the markets' attention after moving around 244 million XRP coins over the past day.

Whale Alert confirmed multiple whale transactions, sparking massive enthusiasm within the digital assets sector. The first move involved a transfer of 18 million tokens from Upbit to unidentified wallet.

Another transaction saw 16 million XRP assets moved from the same exchange to an unknown address. Further, around 210 million XRP assets shifted between unknown addresses.

The massive XRP transaction totaled 244 million, and comes as prices regain upward momentum, showcasing the investor confidence in the remittance coin.

Speculations on a possible settlement between the US SEC and Ripple added to the optimism.

SEC vs. Ripple settlement on the horizon

A Ripple community member said he spotted CEO Garlinghouse outside a courthouse in New York, triggering discussions about settlement negotiations between the crypto firm and the Securities & Exchange Commission.

Further, FOX Business reporter Eleanor Terret posted about a “Settlement Conference” on Friday. She indicated that the next hearing will be on 16 April 2024 – for the last pretrial meeting.

Nonetheless, the documents highlighted the chances of a prior get-together between Ripple and the regulator to discuss settlement – without a definite date provided.

XRP price outlook

The remittance token traded at $0.6265 at press time, up 1.37% over the past day. Also, the 24-hour trading volume reflected bullishness on the Ripple’s token.

A settlement might not be easy for the endless battle between SEC and Ripple.

However, trust from whales, the settlement conference, and Ripple’s CEO in New York indicated possible negotiations. A settlement will likely propel XRP prices.