Ripple retains 1.3 billion XRP, sparking settlement speculation

Ripple has retained 1.3 billion XRP in accessible wallets while unlocking 1 billion tokens, sparking speculation about the SEC case and settlement.

Crypto tracking resource Whale Alert highlighted the latest development, which saw multiple transactions taking place within a two-hour period yesterday. The first batch of transactions involved seven fund movements, with Ripple transferring 1.1 billion XRP to three different wallets and locking 800 million XRP in escrow.

Details of Ripple transactions

Notably, in the first batch of transactions, Ripple transferred 200 million XRP to “rBg…91m” yesterday, and then transferred 300 million XRP to “rDd…eCK”. The company then sent 500 million XRP to “rKD…2op.” Basically, these transactions, which transferred 1 billion XRP to three Ripple wallets, took place between 21:41 and 21:43 UTC yesterday.

Ripple continued to lock some of the funds in escrow for three minutes after the first batch of funds moved. The address “rDd…eCK” locked up the 500 million XRP it received. Afterwards, the “rKD…2op” wallet escrowed 300 million XRP to its balance, increasing the total locked assets to 800 million XRP.

Interestingly, Ripple subsequently sent an additional 100 million XRP to the address “rBg…91m” at 21:49 UTC. This increases the wallet’s balance to 300 million XRP. Through this series of transactions, Ripple sent 1.1 billion XRP to spendable wallets, but locked up 800 million XRP. This increases the available balance for funding movement to 300 million XRP.

The second batch of transactions involved the anticipated escrow unlock, which occurred an hour after the first batch. Ripple unlocked 500 million XRP and sent it to the address “rDq…EsF”, then unlocked another 500 million XRP in two unequal transactions to “rw2…3wY”.

Speculation about SEC resolution

In total, the multiple transactions executed by Ripple resulted in the company locking up 800 million XRP and unlocking 1 billion XRP. While it is common for such transactions to take place each month, the transfer of an additional 300 million XRP to a wallet typically used for fund clearing has raised concerns among the investing public.

As Ripple divides 1.3 billion XRP into possible liquidation funds, speculation has arisen about an imminent resolution to the SEC case. Interestingly, Ripple also moved 200 million XRP late last month. As The Crypto Basic reported, the flow of funds also sparked speculative comments.

It is worth noting that Ripple's lawsuit against the SEC has entered the compensation stage. Therefore, both parties presented arguments on fair penalties for Ripple’s securities violations.

The SEC seeks disgorgement of $876 million and a civil penalty of $876 million, as well as $198 million in prejudgment interest. While the demands total $1.95 billion, Ripple is arguing that the civil penalty should not exceed $10 million. Both parties are awaiting the final decision of the court on the matter.

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