In a surprising move, Ripple recently unlocked 500 million XRP from its escrow accounts, deviating from its usual release schedule. This large unlock has sparked speculation within the crypto community, with many suggesting that it could be linked to the ongoing legal battle between Ripple and the SEC. Some believe that the unlocked XRP could be used to fund legal fees, while others speculate that it signifies a potential settlement on the horizon.
The speculation around a possible settlement was further fueled by a document shared by an X user, @TheJNelsonWay, hinting at discussions between the SEC and Ripple regarding a resolution to their legal dispute. The document indicated that settlement talks were planned ahead of a pre-trial conference scheduled for April 16, 2024. Additionally, the timing of the XRP unlock, coming shortly after a closed-door meeting at the SEC, raised suspicions among some within the community.
This latest XRP unlock marks the completion of Ripple’s April quota, with 1 billion XRP coins programmed to be released this month. Despite only half of this quota being released on April 1, the remaining 500 million XRP was unlocked in a separate transaction. The unprecedented nature of this move, combined with the surrounding legal discussions and closed-door meetings, has added to the intrigue surrounding Ripple’s actions and their potential implications for the ongoing legal battle with the SEC.
