Amid rumors of a possible settlement between Ripple and the SEC, blockchain data revealed a large transfer of XRP, sparking widespread concern across the crypto industry. Ripple's transfer of 150 million XRP sparked speculation about its potential purpose, and more than 45 million XRP was transferred by a well-known crypto whale address, all of which showed an increase in XRP prices and strong interest from market investors. Nonetheless, technical indicators show that XRP prices may see a pullback.

Key Points

- Rumors of a possible settlement between Ripple and the SEC have caused a stir in the crypto industry.

- Ripple transferred 150 million XRP worth $87.49 million on July 17.

- Whale addresses transferred 45 million XRP to Bitstamp and Bitso exchanges.

- XRP prices rose 11.5% on the day to $0.609.

- XRP futures open interest surged 20.23% to $818 million.

- Derivative market trading volume surged 55.62% to $5.15 billion.

- Technical indicators show that XRP has entered the overbought area and the price may pull back.