Ripple co-founder Chris Larsen recently transferred 20 million XRP coins, worth $60.54 million, to an unknown wallet. The transfer has stirred interest within the XRP community, coinciding with a fresh filing by the US SEC in its lawsuit against Ripple.
The Transfer’s Impact
The transfer, reported by Whale Alert, follows a prior move by an XRP whale, who transferred over 31 million XRP to Coinbase, raising concerns about a potential price dip. However, Larsen’s transfer has sparked renewed interest, strengthening the positive outlook for XRP.
SEC Lawsuit Updates
Larsen’s transfer comes as the SEC filed a new appeal challenging the ruling that XRP is not a security. This appeal brings back the debate on whether XRP should be classified as an unregistered security, potentially affecting Ripple’s future and the broader market.
XRP Price Surge
XRP saw a 10% rise in the last 24 hours, reaching $3.11 as per Coinpedia Market data. The token has gained 34.5% in the past week and 21.7% in the last month. The increase in price follows Larsen’s transfer, adding to growing optimism among holders.
For a deeper dive into XRP Price Prediction 2030 and market trends, check out our detailed analysis.
Outlook for XRP
The latest developments, including Larsen’s transfer and the ongoing SEC lawsuit, have fueled positive sentiment for XRP. Some analysts predict the token could reach $6, depending on the outcome of the legal case.
