In the latest XRP news, Ripple has once again stolen the spotlight with a massive XRP transfer recently.
The leading blockchain firm has moved 200 million coins to an unknown wallet, which has sparked speculations over the potential reason behind the move.
However, it also comes as Ripple CEO Brad Garlinghouse has lauded the pro-crypto regulatory shift in the US, which has further sparked speculations.
Besides, the transfer also coincides with a broader crypto market selloff, with XRP price losing more than 3%.
XRP News: Ripple Whale Moves 200 Million XRP
The investors are keeping close track of the XRP news column, with Ripple gaining the investors’ attention recently.
According to the on-chain transaction tracking platform, Whale Alert, Ripple has moved 200 million XRP to an anonymous wallet identified by the wallet address “rJqiM…La8nE.”
Notably, the latest transfer was valued at $439.23 million. Although the blockchain firm often processes these massive transactions for liquidity and its cross-border payment services, the latest timing has fueled speculations.
Meanwhile, it comes just after the passing of the GENIUS Act Stablecoin bill in the Senate. Having said that, many market participants question if the transaction has any relation to that.
On the other hand, Ripple has recently faced another delay in the XRP lawsuit, which has fueled discussions. Besides, many noted that these discussions often lead to volatile trading for a short term in the XRP price.
Looking at the current performance of the coin, it seems that the transfer has already spooked some investors. However, the recent dip could also be due to the broader market selloff.
Ripple CEO Brad Garlinghouse Lauds ‘Historic Moment’
Ripple CEO Brad Garlinghouse has lauded the U.S. Senate’s passage of the GENIUS Act Stablecoin bill. The legislation marks a breakthrough in crypto regulation, he noted.
Meanwhile, the US Senate has passed the GENIUS Act, a groundbreaking bill aimed at creating a regulatory framework for payment stablecoins.
The bill, pushed forward under the leadership of Senator Tim Scott, is now headed to the House of Representatives for further consideration.
The Senate Banking Committee GOP celebrated the win, calling it “landmark legislation” in a recent post on X. The committee highlighted that the bill would help cement America’s leadership in the digital asset space.
Ripple CEO Brad Garlinghouse also echoed that sentiment, calling it a “historic moment” for the crypto sector.
Garlinghouse emphasized how the crypto industry had long demanded clear guidelines. He noted that this is the first major financial legislation since the Dodd-Frank Act. He also underlined its uniqueness as the first crypto-specific bill ever passed in the Senate.
XRP Price Slips 3% Amid Broader Market Selloff
Despite the soaring optimism over the successful passage of the GENIUS Act Stablecoin bill, the broader crypto market slipped today. During writing, the global crypto market cap fell 1.4% to $3.27 trillion.
Bitcoin and the top altcoins also followed suit, with all the top 10 coins staying in the red today. XRP price has lost more than 3% to $2.15, and its trading volume fell 39% to $3.22 billion.
Meanwhile, XRP Futures Open Interest also fell about 2%, reflecting the waning risk-bet appetite of the investors.
It’s worth noting that an analyst has predicted Ripple Coin to stay near the $2 level through May, due to the delay in the XRP lawsuit conclusion.
The post XRP News: Ripple Moves 200M XRP, Garlinghouse Shares ‘Historic Moment’ appeared first on The Coin Republic.
Source: https://www.thecoinrepublic.com/2025/06/18/xrp-news-ripple-moves-200m-xrp-garlinghouse-shares-historic-moment/