Ripple and other large holders of XRP recently moved a total of 218 million tokens, worth around $81 million, in six different transactions. The majority of the movements were made to exchanges such as Bittrex and Bitstamp, coinciding with a recovery campaign by XRP. One of the transactions involved 50 million XRP tokens, worth $21.4 million, transferred from Ripple to an unknown wallet. However, it was later revealed that the recipient wallet actually belonged to Ripple. Other large holders also made movements, with 168 million XRP moved in five different transactions. These movements coincided with a drop in XRP price, but the asset has since recovered and is currently trading at $0.4303.

Claims that Ripple conducted an ICO with XRP have resurfaced amid the ongoing legal battle to determine whether XRP is a security or not. However, media personality and XRP community member Eri has debunked these claims, stating that Ripple never carried out an ICO.

On Monday, XRP, also known as Ripple, dropped by 5% and hit a six-week low, with the global crypto market cap falling by over 3%. This comes ahead of the upcoming U.S. inflation report. Similarly, Solana also declined and hit a multi-week low. XRP/USD dropped to an intraday low of $0.4333, breaking out of a floor at $0.4360, while SOL/USD fell to a low of $21.01, its lowest level since April 26. 

Crypto lawyer John Deaton is urging SEC Chair Gary Gensler to withdraw his regulatory actions against crypto companies, claiming that they harm the industry while failing to protect Americans. The SEC has been enforcing unclear regulatory measures against several crypto entities, including Ripple, Paxos, Bittrex, and Coinbase. Deaton argues that XRP is not a security but a digital currency, and the ongoing lawsuit against Ripple is pushing legal boundaries. The SEC maintains that its actions are necessary to protect investors and ensure compliance with securities laws.

Blockchain-based content sharing platform LimeWire has integrated XRP as a payment method for its ongoing Initial Coin Offering (ICO) event of its proprietary LimeWire token (LMWR). This allows XRP investors to participate in the public sale event using their XRP tokens, with XRP set to list on four major exchanges on May 16. LimeWire had to integrate XRP after the XRP community generated more than the required 300 retweets for the payment method's inclusion in less than two hours. The minimum purchase for the token is set at 418 XRP, and the sale is expected to end in the next three days.

And this recent prediction from Egrag, a cryptocurrency analytics firm, is suggesting that the price of XRP could reach $10 or $27 by the end of 2025.

Ripple CEO Brad Garlinghouse expressed gratitude for the support of the XRP community amid the ongoing legal battle with the Securities Exchange Commission (SEC). Garlinghouse made the remark following his participation in the XRP Las Vegas 2023 event, a two-day conference exclusively dedicated to members of the XRP community. The community's support has not gone unnoticed by Ripple's leadership, and Garlinghouse anticipates the legal matter to be concluded in the first half of 2023. Recent developments, including the SEC's case against Ripple being weakened, could have implications for the outcome of the legal case and the broader regulatory framework for cryptocurrencies. XRP continues to trade in tandem with the general market, with the token trading at $0.46 at press time.

Legal experts are engaging in a heated debate regarding Ripple's XRP sales, which the United States SEC charged Ripple and two of its execs with selling unregistered securities in the form of XRP in December 2020. Pro-XRP lawyer John Deaton engaged former SEC attorney Marc Fagel in a debate over the charges filed by the securities regulator, and Fagel noted that the SEC has a better summary judgment argument than Ripple. However, Deaton has a problem with the way the SEC laid out its argument, which is capable of implicating secondary market transactions. Deaton asserts that the SEC's argument is far-fetched, traveling through space and time into the future and capturing all possible future sales, and they cannot categorically state that the law backs the SEC's argument in the Ripple or protects investors. The development comes days after Australian-based lawyer Bill Morgan urged XRP holders to engage Fagel politely.

Coinbase's Chief Legal Officer, Paul Grewal, has stated that the exchange would only consider relisting XRP if the cryptocurrency meets certain conditions. Grewal emphasized that Coinbase would conduct a thorough assessment of XRP, even if the judge presiding over the Ripple-SEC lawsuit classifies it as a non-security. He added that Coinbase is eager to hear Judge Analisa Torres' final verdict and will weigh the court's determination before making any decision about relisting XRP. Coinbase delisted and ceased trading for XRP in 2021 following the SEC's lawsuit against Ripple, claiming that XRP is an unregistered security. The XRP community has been calling for the relisting of the cryptocurrency, but Coinbase cites regulatory issues as the reason for not supporting it.

Ripple CEO made this known following a meeting with some XRP community members at the XRP Las Vegas 2023 event.