Whales Move 302M XRP Despite No Settlement Between Ripple and SEC

Crypto whales continue to shuffle huge volumes of XRP as settlement rumors clear.

While the anticipated settlement between Ripple and the SEC did not happen as rumored by Cardano founder Charles Hoskinson, XRP whales seemed unconcerned. These deep-pocketed investors were seen moving hefty volumes of XRP coins over the past 24 hours. 

Cryptocurrency whale tracking service Whale Alert reported that an unknown whale transferred an astounding 267,413,843 (267.41M) XRP to an untagged wallet in a single transaction. According to blockchain data, the transaction, which took place today at 12:36 PM (UTC), was valued at around $97.77M.

? ? ? ? ? ? ? ? ? 267,413,843 #XRP (97,775,558 USD) transferred from unknown wallet to unknown wallethttps://t.co/1O0zGB4SAR

— Whale Alert (@whale_alert) December 16, 2022

Whale Alert also reported yet another massive XRP movement that took place in the past 24 hours. Per Whale Alert, 35M XRP ($13.21M) were moved to a Bitstamp address by an unknown whale earlier today.

Settlement Rumors Clear Up

Interestingly, these large XRP transfers were recorded even though the rumored settlement between Ripple and the SEC did not occur. Recall that Hoskinson disclosed in an AMA session on December 10 that he learned Ripple and the SEC could reach a possible settlement on December 15.

The Cardano founder noted that the outcome of the settlement could spell doom for the entire cryptocurrency industry. However, several sources, including FOX Business journalist Eleanor Terrett dismissed Hoskinson’s claim of a possible settlement in the Ripple lawsuit. Terrett noted that her sources assured her there was no truth in Hoskinson’s claim. 

Reacting to several reports debunking the rumor, Cardano founder said he might end up with “egg on his face” if the settlement does not occur on December 15. Interestingly, U.S. defense lawyer James K. Filan, who has been sharing updates about the Ripple vs. SEC case, notified the XRP community of a new development on December 15. 

Instead of the anticipated settlement, Filan tweeted that attorney Rodrigo Seira filed a motion to appear as Pro Hac Vice on behalf of Paradigm Operations, one of the entities that filed amici curiae brief on behalf of Ripple.

#XRPCommunity #SECGov v. #Ripple #XRP Attorney Rodrigo Seira has filed a Motion to Appear Pro Hac Vice on behalf of Amicus Curiae Paradigm Operations LP.https://t.co/ZgIf6PETWE

— James K. Filan ???? 126k (beware of imposters) (@FilanLaw) December 15, 2022

XRP Community Hopeful

Although the settlement did not occur as rumored, XRP investors have kept their fingers crossed as they hope for a positive outcome in the lawsuit. As reported, Ripple and SEC have filed their respective summary judgment motions, opposition, and replies, with each party asking the court to rule in its favor.