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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.
? 18,000,000 #XRP (11,265,675 USD) transferred from #Upbit to unknown wallethttps://t.co/WafjmmxKuv
— Whale Alert (@whale_alert) March 29, 2024
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.
This is probably the meeting that was scheduled to take place prior to the April 16th pretrial conference.
We knew about this meeting in October although there was no scheduled date.
Looks like it took place today. ?? @CryptoLawUS https://t.co/KiKDSSYsdW pic.twitter.com/idBCqJeR1P
— Eleanor Terrett (@EleanorTerrett) March 29, 2024
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.More By This Author:Walgreens Beats Estimates In Fiscal Q2 These DAX Index Stocks Surged In The First Quarter US Corn Futures And Other Grains Volatile Ahead Of US Farming Data
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