XRP News: Ripple Exec Unveils XRP’s Fate as CLARITY Act Vote Fails

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• XRP news highlights Ripple CLO Stuart Alderoty’s comments on XRP’s legal status after the CLARITY Act vote failed.
• XRP price trend gets attention as Santiment finds 85 new millionaire XRP wallets before the 67% breakout.
• XRP whale behaviour remains divided, with Binance favouring spot XRP while OKX focuses on futures.

XRP news remained active on Sept. 16 after Ripple Chief Legal Officer Stuart Alderoty addressed the failed CLARITY Act vote. He said Ripple and XRP remain on “settled ground” despite the Senate setback.

The comments came as XRP traded near $1.29 after a sharp decline during the previous session. On-chain data also showed large-holder activity increased ahead of XRP’s August breakout.

Ripple Exec Says XRP Stands On Settled Ground

Ripple chief legal officer Stuart Alderoty has pointed to the company’s legal position on XRP amid the debate over the CLARITY Act.

According to Alderoty, Ripple and XRP stand on “settled ground,” referring to the 2023 federal court ruling that established that XRP itself is not a security. He also pointed to a joint interpretation issued by the SEC and CFTC in March that designated XRP as a digital commodity.

Alderoty said SEC Chairman Atkins and CFTC Chairman Selig understand the digital asset markets. Meanwhile, he expects future rulemaking by both agencies to continue to set out clearer rules for the market.

The comments come as the CLARITY Act faces difficulties around its legislative progress. However, Alderoty’s position is that XRP’s status does not depend entirely on the bill’s outcome.

This remains an important part of the latest XRP news because the legal treatment of XRP has been a major issue for Ripple and the wider XRP market. The comments also show that Ripple is looking beyond a single piece of legislation, with the company expecting regulatory agencies to continue developing rules for digital assets.

Santiment Links XRP Breakout To Millionaire Wallet Growth

Santiment has highlighted another development in XRP news, pointing to the behaviour of large XRP holders before the token’s recent price move. The analytics platform reported that 85 new addresses holding at least 1 million XRP appeared two days before XRP recorded a 67% breakout between August 17 and August 21.

According to Santiment, wallets holding more than 1 million XRP can absorb supply, add depth to bids, and move liquidity faster than smaller retail holders. The firm therefore noted that sharp changes in this group can sometimes appear before major XRP price movements.

The data adds another layer to the recent XRP price trend. Rather than focusing solely on the size of the breakout, Santiment is highlighting what large holders did before the move.

In addition, the firm pointed to activity around the XRP Ledger that could support its view of continued interest in the ecosystem. Ripple backed an RLUSD credit fund focused on fintech and payments lending on XRPL. ZILO and Licuido investments have also added tokenisation, transfer agency and collateral mobility rails to Ripple’s XRP Ledger stack.

Santiment said whale wallet numbers remain high, while RLUSD adds settlement utility to XRPL, and institutional tokenisation continues to provide another use case for the network.

XRP News Show Whales’ Different Trading Behaviour

Recent XRP news also shows that large holders are not moving in the same direction across exchanges. CW reported a clear difference between whale activity on Binance and OKX during the market decline. Binance whales were reported to be net buying significant amounts of spot XRP while simultaneously net selling their futures positions.

OKX whales showed the opposite pattern. They were reported to be net buyers of significant futures positions while net sellers of spot XRP. Meanwhile, Coinbase whales were reported to be making smaller spot XRP purchases.

The activity points to different approaches among large traders. Binance whales were more focused on the spot market, while OKX whales were more active in futures.

This divergence is important because whale activity does not represent one single market view. Large holders can take different positions depending on the exchange and whether they are trading spot XRP or futures.

Taken together, the data present three separate developments around XRP. Ripple continues to point to the coin’s existing legal position, Santiment has identified increased millionaire wallet activity around the previous breakout, and whale trading behaviour remains divided across major exchanges.

This article is for informational purposes only and does not constitute financial, legal or investment advice. Cryptocurrency investments involve risk, and on-chain activity does not guarantee future price performance.

Indlægget XRP News: Ripple Exec Unveils XRP’s Fate as CLARITY Act Vote Fails blev først offentliggjort på The Coin Republic.