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Ripple’s 100 Million XRP Move Sparks Buzz As US SEC Hints At Filing Appeal

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American blockchain payments company Ripple on Friday moved a whopping 100 million XRP, echoing a frenzy across the broader market. The transaction came in the background of the U.S. SEC hinting that it is ready to file an appeal in the XRP lawsuit ahead. Meanwhile, the approval of the American company’s recent $125 million stay order has brought additional intrigue to the massive transaction.

Ripple Transfers 100M Coins, US SEC Readies Appeal?

According to Whale Alert data on X dated September 6, 100 million XRP, worth $54 million, was shifted from Ripple to the unknown address rht..Wdc. This transaction caught the eyes of crypto enthusiasts, primarily due to the recent developments within SEC lawsuit.

In addition, Whale Alert’s data today spotlighted 31.12 million coins, worth $16.90 million, accumulated from the Orbit exchange by an unknown address, adding to investor speculations. Simultaneously, the renowned whale ..Rzn continued its dumping chronicle to the exchanges Bitstamp and Bitso, collectively offloading nearly 56M coins.

Ripple Obtains Stay Order on $125 Million Amid SEC Appeal Odds

Judge Analisa Torres and the Securities and Exchange Commission recently agreed on the blockchain firm’s request to put a $125 million settlement on a stay order. While this development sided with the American company, SEC’s agreement on putting the settlement on hold has sparked speculations over the regulatory body’s plans to file an appeal ahead.

As the final judgment in the lawsuit mandates the payment of $125 million settlement by the American blockchain payments company, paying it would mean a final conclusion. Nonetheless, as the SEC agrees on the stay order, the crypto community expects an appeal.

A recent report by CoinGape Media spotlights that lawyer Fred Rispoli stood strong on rising odds of an appeal from the SEC. Further, even lawyers James Farrel and Marc Fagel were confident about an appeal ahead. In the wake of these anticipations, Ripple’s 100 million token move has garnered significant attention. Meanwhile, a renowned market enthusiast pointed out on X recently that the stay order means that the American blockchain firm “is placing the $125 million in escrow, serving as an insurance policy for the blockchain firm.”

XRP Price Today

At press time, XRP price cracked nearly 3% to trade at $0.5392. The coin’s intraday low and high were $0.5411 and $0.5548, respectively. Notably, Ripple’s 100 million coins mover came as the token lost the $0.56 level.

Besides, XRP price analysis by CoinGape suggests that the Ripple-backed coin remained stagnant near the $0.56 level for quite some time. However, the looming RLUSD stablecoin is anticipated to go live sooner than expected, projecting optimistic sentiments on the asset’s long-term prospects.

Meanwhile, Coinglass data today showcased a 0.43% slip in futures OI to $591.67 million. Further, the derivatives volume plummeted nearly 5% to $767.66 million. This data has sparked uncertain sentiments among investors over the asset’s future price action, hinting at reduced investors in the asset. Crypto market participants continue to eye the crypto for future price action shifts, as the lawsuit continues to advance.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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XRP Price to $27? Expert Predicts Exact Timeline for the Next Massive Surge

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Crypto expert Egrag Crypto has again predicted that the XRP price could rally to as high as $27. The analyst has also revealed the exact timeline for when the altcoin could record this massive price surge.

Expert Reveals Time For XRP Price To Hit $27

In an X post, Egrag Crypto asserted that the XRP price can hit $27 in 60 days. The expert remarked that historical patterns indicate that the altcoin can reach this target within this timeframe.

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Based on this price prediction, XRP could reach this $27 target by June, marking a 1,250% gain for Ripple’s native crypto. The expert’s accompanying chart showed that he was alluding to the 2017 bull run as to why the altcoin could record such a parabolic rally.

In 2017, XRP recorded a historic gain of over 60,000% as it rallied to its current all-time high (ATH) of $3.8 the following year. As such, based on history, a 1,250% increase is nothing for the altcoin.

In the meantime, the XRP price still boasts a bearish outlook thanks to the sentiment in the broader crypto market. As CoinGape reported, Ripple’s coin could drop to the next major support levels at $1.79 and $1.56 if it fails to hold above $2.03.

Decision Time For The Altcoin

In an X post, crypto analyst CasiTrades stated that it is decision time for the XRP price. She noted that the altcoin is showing strength with a bounce right back to the first key test at $2.17. She added that this is the resistance level she wants to see flip into support, as it might be the “most important price of the week.”

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The analyst stated that XRP must reclaim this level to build momentum. She added that the $2 level remains a valid target if the $2.17 level rejects. Meanwhile, CasiTrades revealed that $2.70, $3.05, and $3.80 are the major resistance zones once the upward trend is confirmed.

The analyst also mentioned that the XRP price is now fully inside the Fibonacci Time Zone 3, which spans most of April. She affirmed that this is the breakout window market participants have been preparing for and that all signs point to a macro wave.

CasiTrades affirmed that the structure is clean. The RSI divergence has confirmed the bottom, while the subwaves are aligning well with the larger targets. If the next leg pushes XRP back above $2.17 with momentum, she claimed that market participants may finally see obvious signs of Wave 3. Interestingly, the analyst added that if the altcoin clears $2.70 this week, it may break the $1,000 price extension.

For now, investors may remain cautious, especially seeing how XRP fell after the PMI and JOLTS data release earlier today. Donald Trump is also set to announce reciprocal tariffs tomorrow, which could spark a massive price crash.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Update Sparks 50% Decline For Solana Meme Coin ACT: Details

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A recent Binance update has triggered massive liquidations while sending Solana memecoin ACT into a steep correction. At first, pundits blamed market maker Wintermute for the jarring declines but Binance’s update to leverage and margin tiers appears to be the culprit.

Several Altcoins on Binance Suffer Massive Corrections

According to an X post, several altcoins listed on Binance took a major hit, dropping by double-digit percentages. The hardest hit of the lot was Solana memecoin ACT, experiencing a sudden drop of over 50% in 30 minutes.

Other altcoins including DEXE and DF equally recorded steep declines of 23% and 16% respectively in the same window. The price slump left traders scratching their heads but a consensus formed that sizable sell orders were behind the declines.

“The sudden dips were triggered by large sell orders executed in a short time frame, leading to a significant surge in spot trading volume,” said one pundit.

Others turned to market maker Wintermute as the trigger for the selloff. However, Wintermute CEO Evgeny Gaevoy denied responsibility while noting that the market maker reacted “post move.”

The decline comes amid a broader market recovery with several cryptocurrencies including Compound (COMP) gaining 70%.

What Triggered The 50% Decline For Solana Meme Coin

A Binance update on leverage and margin tiers on specific tokens like ACT triggered the massive declines. According to an April 1 announcement, the top exchange has updated the margin tiers of several perpetual contracts, noting that existing positions will be affected.

Following the move, one ACT whale got liquidated for $3.79 million at $0.1877, triggering a broad selloff. Former FTX community manager Benson Sun noted that traders had less than 3 hours to respond to the change, criticizing Binance for the move.

“Before changing the rules, Binance should have evaluated how many positions would be closed,” said Sun. “If there are market makers with large positions, they should have notified them in advance.”

Within hours of MUBARAK’s listing, the memecoin tumbled by 40% with Binance CEO Changpeng Zhao downplaying the impact of a listing on prices. Binance has drawn criticism in recent days following its exclusion of Pi Network from its Vote To List initiative.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC, ETH, XRP, DOGE Fall Following Weak PMI, JOLTS Data

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A crypto market crash looks imminent, with Bitcoin, Ethereum, XRP, and Dogecoin witnessing notable declines. This price crash happened following the release of weak manufacturing PMI and JOLTS data, which provides a bearish outlook for the market.

Crypto Market Crash: BTC, ETH, XRP, & DOGE Decline

CoinMarketCap data shows that a crypto market crash could be on the horizon, with the Bitcoin price sharply dropping below $83,000 from a daily high of around $84,400. Altcoins such as Ethereum, XRP, and DOGE also witnessed sharp declines.

This market crash occurred following the release of weak ISM manufacturing PMI and JOLTS data. The March PMI data dropped to 49, below expectations of 49.5 and lower than the 50 recorded in February.

The US JOLTS job openings for February came in at 7.568 million, below the expected 7.690 million and lower than the 7.762 million recorded in January. These data add to several macro fundamentals that paint a bearish outlook for the market.

This crypto market crash could persist, with China, Japan, and South Korea agreeing to respond to Donald Trump’s proposed tariffs. Trump is set to announce a number of reciprocal tariffs tomorrow, which could significantly harm the market as it sets off a trade war between the US and other nations.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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