A significant transfer of over 26,671,734 XRP to Coinbase has sparked speculation in the cryptocurrency market, especially given the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). This move coincided with a downturn in XRP prices following four consecutive days of losses. The token’s price dipped below its daily simple moving average of $2.28, leading to a 5.24% decline over the last 24 hours as of the time of writing. 248,624 traders were affected as more than $1.16 billion in leveraged positions were liquidated within 24 hours. This indicates heightened market volatility amidst uncertainty surrounding XRP’s future.