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Ripple 
$2 transferred 200 million XRP tokens, valued at approximately $109 million, to an unknown wallet. This transaction occurred just before a significant milestone in Ripple’s ongoing legal battle with the SEC, drawing considerable attention.
Updates in the SEC Case
The SEC has accused Ripple of selling unregistered securities, while Ripple contests these claims. The company argues that XRP sales do not violate U.S. securities laws. Ripple’s Chief Legal Officer, Stuart Alderoty, made statements regarding the potential for a review of the case.
XRP Market Movements
Amid developments related to the case, a significant increase in XRP trading volume was observed. According to CoinGlass data, derivative trading volume rose by over 130%, while spot trading volume increased by 108% compared to the previous day. These figures indicate a growing interest in XRP.
During this major transfer, Ripple announced the integration of XRP Ledger (XRPL) with the MetaMask Web3 wallet. This integration allows MetaMask users to interact with the XRP Ledger. Users can now manage XRP accounts, sign transactions, and engage with XRPL-based applications more easily, providing millions of MetaMask users access to the XRP ecosystem.
The XRPL Snap integration aims to expand XRP’s reach to a broader audience. This tool offers crucial functionalities for developers, such as network flexibility and security controls, potentially aiding in the expansion of the XRP ecosystem.
While the SEC lawsuit continues, Ripple closely monitors market and technological developments. These actions may influence both the legal proceedings and XRP’s market behavior.
