Ripple Transfers 15 Million XRP Following Legal Victory Against SEC
Ripple transferred 15 million XRP tokens shortly after a legal victory against the U.S. SEC. The transaction had a minimal fee of 0.000015 XRP, indicating network efficiency.
Analysts speculate this transfer may relate to:
- Liquidity preparation for exchanges
- Settlement mechanisms
- Expansion of Ripple’s On-Demand Liquidity (ODL) corridors
Whales Watch Closely as XRP Price Slips
Despite positive developments, XRP is trading at $2.96, down 1.67% in 24 hours, with trading volume decreasing by over 26% to $4.94 billion. This decline raises concerns about short-term momentum.
Key price levels for XRP include:
- Resistance: $0.65–$0.68
- Support: $0.60 and $0.55
A breakout above $0.70 could lead towards $0.80, while failure to maintain support may result in deeper corrections. Whale activity remains significant, with XRP futures open interest at $7.94 billion.
ETFs, RLUSD, and the Bigger Picture
Analyst Zach Rector noted that Ripple's restructuring during its SEC case could set the stage for potential XRP exchange-traded funds (ETFs). Since ETF issuers cannot source XRP directly from Ripple, centralized exchanges and OTC desks might become primary supply channels, impacting market liquidity.
The adoption of Ripple USD (RLUSD) in Japan, in partnership with SBI Group, has strengthened XRP’s fundamentals, as RLUSD requires XRP for transaction fees, increasing on-chain demand.
As Ripple navigates its next phase, the swift transfer of 15M XRP indicates preparation for future growth opportunities, including ETF readiness and liquidity expansion.