Ripple vs SEC: Whales Shuffle $95.7M XRP, Judge Could Declare Verdict As Soon As June

• Optimistically speaking, Ripple CEO Brad Garlinghouse thinks the long-drawn battle between his company and SEC is nearing its conclusion.
• Garlinghouse indicated that Ripple would only settle if SEC would clearly admit XRP is not a security.

Cryptocurrency whales have been accumulating large amounts of XRP in the past week, with an anonymous whale moving 28M XRP worth $10.94 million to Bitso. These transactions indicate a growing interest in XRP among investors, as the Ripple vs SEC lawsuit approaches its conclusion.

The SEC sued Ripple Labs in December 2020, alleging that the company had conducted a $1.3 billion unregistered securities sale with its XRP coin. Ripple has denied the allegations and is seeking to have the case dismissed.

The outcome of the lawsuit could have a major impact on the future of XRP and the cryptocurrency industry as a whole. If Ripple is successful in having the case dismissed, it could pave the way for other cryptocurrency companies to launch unregistered securities sales.

However, if the SEC is successful in its case, it could set a precedent that could make it more difficult for cryptocurrency companies to operate in the United States.

In the meantime, cryptocurrency whales seem to be betting on a positive outcome for Ripple. The recent accumulation of XRP by whales suggests that they believe the lawsuit will be dismissed and that XRP will appreciate in value.

It remains to be seen whether the whales will be proven right, but their actions are a sign of growing confidence in XRP and the cryptocurrency industry as a whole.

In addition to the whale activity, Ripple CEO Brad Garlinghouse is also optimistic about the outcome of the lawsuit. In an interview at the World Economic Forum in Davos, Garlinghouse said that he is “optimistic that this will certainly be resolved in 2023, and maybe [in] the first half.”

Garlinghouse also took the opportunity to criticize the SEC, saying that the agency has “embarrassed itself” with its handling of the case.

The Ripple vs SEC lawsuit is a major test for the cryptocurrency industry. The outcome of the case could have a significant impact on the future of XRP and the way that cryptocurrency companies operate in the United States.