A whale transferred 29.5 million XRP tokens, valued at approximately $59 million, to Coinbase. The cryptocurrency community has taken notice of this significant transaction. This deal happened just days before an important deadline in the ongoing legal fight between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). This has led to speculation about what it might mean for the market and XRP’s future.
Whale Alert: A huge amount of XRP has been sent to Coinbase
On June 3, 2025, Whale Alert, a service that tracks blockchain transactions, said that a lot of XRP tokens were sent to Coinbase. Big moves to centralized exchanges like this often happen before big market events, like big sell-offs or major stakeholders making strategic moves. The crypto community is analyzing this transfer, which occurred just before some legal changes.
🚨 🚨 🚨 26,671,734 #XRP (58,965,927 USD) transferred from unknown wallet to #Coinbasehttps://t.co/SMm6RBZpwF
— Whale Alert (@whale_alert) June 5, 2025
Ripple and the SEC are at a legal crossroads
The Ripple-SEC lawsuit, which started in December 2020, is based on claims that Ripple sold XRP tokens without registering them as securities. The case is at a very important point, and the court has set a deadline of June 16, 2025, for both sides to give an update on the case. Legal experts say that if this deadline is missed, the appeals process could start up again, which could make the case last longer and change the way XRP is traded.
Attorney Fred Rispoli talked about how important this deadline is, saying that there haven’t been any new filings since Judge Analisa Torres turned down a joint motion from both sides. Rispoli tweeted recently, “20 days later, the SEC and Ripple still haven’t refiled in district court, and the June 16 deadline for the status update in the 2nd Circuit is coming up fast.”
What the market means and how investors feel
A large amount of XRP being sent to Coinbase has made people worried about how the market might change. In the past, when a lot of tokens came into exchanges, there was more selling pressure, which caused prices to go down. XRP is currently trading at about $2.18, which is a small drop in value since the last data update.
Technical analysts are closely monitoring key support levels, particularly those around $2.00. If the price falls below this level, it could mean that it will keep going down. If it goes back up, it could mean that the market is strong despite the legal problems. During this time of high volatility, investors should stay informed and be careful.
What people are saying and thinking in the community
People in the crypto community have been talking a lot about what the whale transfer and the ongoing legal proceedings mean. Some people think the transfer is a strategic move in case the legal outcome is good, while others think it’s a way to protect against bad rulings.
A recent YouTube video called “XRP $100 INCOMING?” adds to the conversation. SEC Lawsuit ENDGAME Starts HUGE Whale Moves! The video examines potential outcomes and the market’s possible reactions once the lawsuit concludes.
XRP is at a very important point right now because of big token movements and legal changes that are happening as the June 16 deadline approaches. Market participants should remain vigilant, closely monitor official communications from Ripple and the SEC, and consider the potential impact of the lawsuit’s outcome on the overall cryptocurrency market.
Also read: Hyperscale Data’s $10 Million XRP Investment Marks Strategic Shift in Financial Services
