Ripple Retains 13 Billion XRP Following Escrow Release Fueling Theories of a Settlement

Ripple has retained 1.3 billion XRP in its spendable wallets after unlocking 1 billion tokens from escrow for July, sparking speculation of a settlement in the SEC case, according to crypto tracking resource Whale Alert. The transactions took place within a two-hour period, with Ripple transferring 1.1 billion XRP to three different wallets and locking up 800 million XRP in escrow. The first batch of transactions involved moving 200 million XRP to “rBg…91m,” 300 million XRP to “rDd…eCK,” and 500 million XRP to “rKD…2op.” After locking up some of the funds in escrow, the second batch of transactions saw 500 million XRP unlocked to “rDq…EsF” and another 500 million XRP unlocked to “rw2…3wY.” The movement of an additional 300 million XRP to a wallet typically used for fund liquidations has led to speculation of an imminent settlement in the SEC case. The SEC is seeking a disgorgement of $876 million and a civil penalty of $876 million, while Ripple argues that the penalty should not exceed $10 million. The court’s final decision is awaited by both parties.