Ripple Dumping Loads Of XRP—Do They Know Something We Don’t?

December 21, 2022 10:52 am Comments

Recently, Whale Alert posted that Ripple Labs shifted a massive quantity of XRP to an ‘unknown’ wallet:

This is prompting many to ask if the crypto firm knows something that the public does not, something that is connected to the outcome of the ongoing Ripple v SEC lawsuit.

Investors, industry insiders, and crypto enthusiasts were hopeful that the lawsuit would be settled by December 15th, 2022, or possibly later this month…

Unfortunately, those hopes have been dashed, as the lawsuit shows no sign of ending any time soon and John Deaton has indicated that the lawsuit would be settled by the end of March at the earliest.

Here are the details of the recent Ripple-initiated transaction:

U Today claims:

The transaction went to a wallet that the crypto tracker marked as “unknown.” However, details revealed by the Bithomp XRP explorer show that Ripple moved the funds to one of its reserve wallets, called RL18-VN.

From this address, 27.682 million XRP was later sent to the Bittrex exchange with a likely goal of selling it. Fifteen million XRP were moved to an anonymous wallet.


CoinPedia adds:

All eyes are on the motion for summary judgment, which is expected to happen in the first half of 2023.

As XRP trades around $0.39, a Ripple win could send it to the roof and trade above $2. Otherwise, an SEC win could push back the digital asset to a new multi-year low.

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