XRP Price Surges After Ripple Transfers 150 Million XRP
The price of XRP has soared over 12% after Ripple transferred 150 million XRP to an unknown wallet. The move has fueled speculation that Ripple may be nearing a settlement with the Securities and Exchange Commission (SEC).
The transfer, which is worth roughly $87.5 million, has caused some to believe it may be related to an upcoming SEC meeting on July 18th. This meeting will focus on settlements and litigation resolutions, and it is possible that Ripple may be trying to finalize a deal with the SEC.
The price of XRP has been on a tear lately, rising nearly 40% on its weekly chart and over 23% on its monthly chart. The surge in price can be attributed to hopes that the SEC lawsuit against Ripple may be coming to an end.
It’s important to note that Ripple has a history of transferring XRP to unknown wallets. These transfers are often related to the company’s escrow system, which was put in place to regulate the release of XRP onto the XRP Ledger. However, the timing of this particular transfer has caused some to believe that it may be more significant than previous transfers.
While the rumors of a settlement are exciting for XRP holders, it is important to remember that the market is volatile, and there are many factors that can affect the price of any cryptocurrency. As always, it’s essential to do your own research before investing in any cryptocurrency.
