XRP Extends Declines, Price Falls 1.12% to $2.156 Following 130M XRP Transfer

Key Moments:

Ripple Moves 130 Million XRP, Coin Falls Over 1%

XRP continued its decline on Monday, with the price dropping 1.12% to $2.156. This depreciation followed data indicating that Ripple had recently transferred 130 million XRP across multiple wallets, a move that prompted speculation about additional downward pressure on the token.

According to the on-chain monitoring service Whale Alert, the wallet “Mb3PEv” executed a series of transactions totaling over $283 million in XRP. The largest of these was a 109 million XRP move to “DJoAys,” followed by two smaller 40 million XRP transactions. Prior similar transactions in December 2024 have raised questions, especially as one of the wallets may be associated with Ripple co-founder and Executive Chairman Chris Larsen.

Legal Clarity Strengthens XRP’s Case

Despite the price drop, market sentiment was influenced by statements from Bill Morgan, legal expert, and vocal XRP supporter, who dismissed concerns over the token’s legal status surrounding the ongoing legal proceedings with the SEC. Morgan referenced a crucial decision by Judge Analisa Torres, who ruled that XRP is not a security, a judgment the SEC did not contest. Morgan also went on to counter arguments questioning XRP’s institutional support and its relevance to central bank digital currencies.

As Ripple’s courtroom journey continues to unfold, its broader influence on regulatory standards becomes increasingly evident. The debate could shape how other digital assets might be categorized and may affect broader market sentiment, showing that XRP’s regulatory classification has significant implications beyond Ripple.