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XRP Transfer by Chris Larsen, Ripple Co-Founder
XRP coins worth $60.54 million were transferred from a wallet linked to Chris Larsen, a co-founder of Ripple, to an unknown wallet, according to Whale Alert. The transfer has sparked speculation that the objective could be to accumulate more XRP tokens, as it involves as many as 20 million tokens.
Interestingly, an XRP whale wallet had previously moved over 31.17 million XRP coins worth more than $80.59 million to Coinbase. This had triggered speculation that the XRP whale would sell the holdings. Such an activity would have triggered a price dip; however, the current XRP news of 20 million tokens being moved to an unknown wallet has boosted the interest of crypto investors in XRP coins.
US SEC v. Ripple Lawsuit
The XRP transfer by Chris Larsen comes after the US SEC filed a fresh appeal against the judgment that declared XRP was not a security. With this development, the SEC XRP lawsuit has taken a new turn and put speculation for XRP ETF to rest for a while. The lawsuit was first filed in December 2020 and was later declared in favor of Ripple when Judge Torres delivered her judgment citing that XRP was not a security.
Recent development in the Ripple SEC lawsuit brings back the argument that XRP is a security under the Howey Test as the sale made was in terms of an investment contract. The argument further notes that the sale of XRP by Ripple to retail investors constitutes unregistered securities transactions.
XRP Price Analysis
The performance of XRP has been volatile in recent times, with prices fluctuating between $0.30 and $0.40. However, the recent XRP news has boosted interest in the token, leading to a price surge. As of now, XRP is trading at around $0.38, with many analysts predicting a further price increase in the coming days.
Conclusion
In conclusion, the XRP transfer by Chris Larsen has sparked a lot of interest in the crypto community, with many speculating that the objective is to accumulate more XRP tokens. The recent development in the Ripple SEC lawsuit has also brought back the argument that XRP is a security, which could have implications for the token’s future prospects. As always, it is essential to conduct thorough research and consult with a financial advisor before making any investment decisions.
FAQs
Q: What is the current price of XRP?
A: As of now, XRP is trading at around $0.38.
Q: What is the purpose of the XRP transfer by Chris Larsen?
A: The purpose of the transfer is not clear, but many speculate that it could be to accumulate more XRP tokens.
Q: What is the current status of the Ripple SEC lawsuit?
A: The lawsuit is ongoing, with the SEC filing a fresh appeal against the judgment that declared XRP was not a security.
Q: What are the implications of the Ripple SEC lawsuit for XRP?
A: The lawsuit could have implications for XRP’s future prospects, including its classification as a security or not.
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