High Amount Transfers at Large XRP Investors

There are many indications that the case between Ripple and the SEC, which has been on the agenda for about 2 years, has come to an end. However, the predominant views on how the case will end have been constantly changing, especially this year.

While the litigation process is closely followed, almost every new development in the XRP market continues to be priced in. Finally, the Blockchain data showed the large amount of asset transfer from Big XRP investors. This has prompted comments that there may be a new development in the case soon.

As Whale Alerts reports, XRP whales have recently transferred 618 million XRP, which equates to a total of $221 million. However, there is no high trading volume reflected in the XRP price yet. While XRP continues its general bearish trend, the crypto asset price started to decline after a jump of 8% at the beginning of the week, trading below $0.35.

The summary judgment is expected to be announced in the first quarter of 2023 during the litigation process. As the process continues, XRP advocate and Crypto-Law founder John Deaton conducted a poll on Twitter and asked the XRP community how they think the case will end in 2023. While nearly 60% of the respondents thought that the case would result in reconciliation, the rest voted that the outcome of the case would be left to the court decision.

The possibility of a settlement on the table between the blockchain company and the US regulator means that the two parties agree to end the case by agreeing to their interests. Ripple CEO Brad Garlinghouse, on the other hand, evaluated the possibility of reconciliation in his previous statements. Garlinghouse stated that they may look to a compromise on the condition that XRP is not considered a security.

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