Ripple Conducts $498M XRP Transfer as SEC Lawsuit Deadline Approaches

Ripple Labs, under CEO Brad Garlinghouse, recently executed a significant transfer of $498 million in XRP tokens. This event occurs amidst the ongoing legal proceedings between Ripple and the Securities and Exchange Commission (SEC). While the transfer timing coincides with the upcoming deadline for updates on the case’s progress, neither Ripple nor the SEC have officially confirmed any settlement agreement. Market uncertainty has been fueled by the lack of official statements regarding a potential resolution.