XRP Whale Moves $50M as Ripple Case Formally Ends

XRP Whale Transfers $50M to Coinbase Amid Ripple Case Resolution

An XRP whale made a significant move today, transferring 16,594,920 XRP tokens, worth over $50 million, to a Coinbase wallet. This follows positive developments in the Ripple vs. SEC lawsuit and a general uptrend in the crypto market.

The transaction was flagged by Whale Alert, an on-chain analytics tracker. The move coincides with a nearly 10% price surge in XRP over the last 24 hours, with the token currently trading around $3.03, boasting a market cap of $180 billion.

Market sentiment has been buoyed by recent comments from Federal Reserve Chair Jerome Powell, hinting at potential future interest rate cuts.

Ripple vs. SEC Case Concludes: Implications for XRP

The resolution of the long-standing Ripple vs. SEC lawsuit is a major catalyst. After over four years of legal battles, a joint dismissal was approved by the Second Circuit court on August 22, removing a significant hurdle for XRP.

While some analysts predicted XRP would surge to astronomical levels upon the case's end, the token's price remains around $3. However, the newfound regulatory clarity could pave the way for future growth.

The whale's transfer to Coinbase could be an attempt to capitalize on the current uptrend. However, if these tokens are sold, it could trigger a downtrend.