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<p>The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/ripple-transferring-70-million-xrp-to-gain-profits-as-xrp-exceeds-0-54-whats-next/">Ripple’s XRP Strategy: What’s Behind the 70 Million Tokens Move?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/news/top-legal-expert-jeremy-hogan-predicts-ripples-victory-in-sec-appeal-over-xrp-sales/">Ripple</a>, the cryptocurrency sensation, has recently clinched some significant legal wins that have brought much-needed clarity and confidence to its investors. </p> 
<p>Let’s break down the developments.</p> 
<h2 class="wp-block-heading" id="clashing-with-the-sec">Clashing With the SEC</h2> 
<p>In a landmark decision last July, a U.S. district court ruled that the trading of XRP in secondary markets did not amount to securities transactions, debunking the SEC’s attempt to label it as such. This was a major setback for the SEC, surprising many in the crypto community.</p> 
<p>In a surprising twist, the SEC also decided to drop its charges against Ripple executives <a href="https://coinpedia.org/price-analysis/xrp-price-rally-as-sec-dismisses-lawsuit-against-ripple-executives/">Brad Garlinghouse and Chris Larsen</a>, adding to the company’s legal victories.</p> 
<p>These legal victories have not only provided regulatory clarity for XRP but have also fueled investor confidence. As a result, <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/">XRP</a> has seen a remarkable 10% surge in its value over the past week, currently trading just above the $0.54 mark.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 70,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (38,364,524 USD) transferred from <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw">#Ripple</a> to unknown wallet<a href="https://t.co/YiSRje7LAn">https://t.co/YiSRje7LAn</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1716672211883266350?ref_src=twsrc%5Etfw">October 24, 2023</a>
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<p>Notably, leading blockchain tracker Whale Alert has reported a substantial increase in XRP transactions tied to Ripple Labs in the past 24 hours. This surge in activity has the crypto world buzzing with excitement.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/ripple-v-sec-lawsuit-update-court-issues-new-order-next-step/">SEC vs. Ripple: What to Expect Next in the Remedies Phase?</a></p> 
<h2 class="wp-block-heading" id="h-what-s-on-the-horizon-for-xrp">What’s on the Horizon for XRP?</h2> 
<p>With the legal battles behind them, many are now keenly watching Ripple for its next moves.</p> 
<p>Recently, a whopping 70 million <a href="https://bithomp.com/explorer/rJqiMb94hyz41SBTNr2AyPNW8AzELa8nE">XRP tokens</a>, valued at around $37.6 million, were transferred to a new wallet. This move comes on the heels of Ripple’s release of 1 billion XRP tokens from its escrow wallet, with 200 million tokens now held in a separate address and 120 million XRP sent to the Bitstamp exchange.</p> 
<p>This transfer followed Ripple’s collaboration with <a href="https://coinpedia.org/news/ripple-and-uphold-partner-to-enhance-cross-border-crypto-payments-crypto-liquidity/">Uphold</a>, aimed at boosting cross-border payments and enhancing crypto liquidity.</p> 
<p>An intriguing detail is that the new wallet, now holding 83.55 million XRP (approximately $45 million), is raising eyebrows in the blockchain community. Many are pondering over what Ripple’s intentions might be with these funds, with some speculating that it could indicate a desire to cash in on its XRP holdings.</p> 
<p>Interestingly, the 70 million XRP, which remains in the newly designated wallet, currently holds a <a href="https://bithomp.com/explorer/rJqiMb94hyz41SBTNr2AyPNW8AzELa8nE">balance</a> of 83.55 million XRP, roughly equivalent to $45 million. Observers in the blockchain community are anticipating the next move of these funds, as it could signal Ripple’s intention to realize profits from its XRP holdings.</p> 
<h2 class="wp-block-heading" id="strong-ripple-strong-and-its-xrp-sales"><strong>Ripple</strong> and its XRP Sales</h2> 
<p>Ripple has a history of selling XRP to cover operational costs and employee compensation. The company also frequently sells XRP to financial partners who use it on Ripple’s on-demand liquidity (ODL) platform. Recent movements suggest this is in line with their usual pattern.</p> 
<p>For instance, on October 22, an anonymous wallet moved a significant 412,334,412 XRP, hinting at a major player possibly conducting an OTC sale or reorganizing their crypto holdings.</p> 
<h2 class="wp-block-heading" id="strong-xrp-s-future-in-the-balance-strong"><strong>XRP’s Future in the Balance</strong></h2> 
<p>The future of XRP seems to be hanging in the balance. The key resistance level is at $0.5604, with the $0.60 mark as the grand prize. On the flip side, a drop below $0.5488 could lead to a worrying decline toward the critical $0.5035 support level.</p> 
<p>Read More: <a href="https://coinpedia.org/price-analysis/xrp-price-surpasses-the-0-54-level-ripple-to-surge-20-in-the-coming-week/">XRP Price Surpasses The $0.54 level, Ripple To Surge 20% In The Coming Week?</a></p> 
<p>All of this is happening amid a surge in XRP’s price, reflecting a broader uptick in the cryptocurrency market. Optimism about the potential approval of a <a href="https://coinpedia.org/news/ripple-attorney-john-deatons-take-on-secs-bitcoin-etf-stance/">Bitcoin exchange-traded fund (ETF)</a> has been a driving force behind the positive market sentiment, and XRP is undoubtedly riding that wave.</p>

Ripple’s XRP Strategy: What’s Behind the 70 Million Tokens Move?

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