Whale Accumulation Grows as SEC Nears Decision on Dropping Ripple Appeal

A former SEC lawyer has indicated that the U.S. Securities and Exchange Commission will likely vote to dismiss its appeal in the Ripple vs SEC case before the August 15 deadline. SEC commissioners may reach this decision during a closed-door meeting scheduled for August 7, potentially bringing the lengthy legal battle closer to resolution.

The regulatory agency and Ripple have both signaled intentions to drop their respective appeals in the Court of Appeals for the Second Circuit. This development comes after earlier attempts by both parties to modify Judge Analisa Torres’ ruling, which included a $125 million civil penalty that Ripple unsuccessfully sought to reduce to $50 million.

SEC Meeting Could Determine Appeal Fate

Former SEC attorney Marc Fagel explained that commissioners must follow standard procedures to officially dismiss the appeal. The agency typically requires 1-2 months to approve enforcement recommendations, making the August 7 meeting particularly significant for meeting the mid-August deadline.

🚨RIPPLE NEVER DROPPED ITS APPEAL?!

The crypto world thought it was over.
But a former SEC attorney just exposed the truth:

Ripple’s appeal is STILL ALIVE — and the SEC hasn’t filed dismissal either.

Let’s unpack the facts behind the chaos 👇 pic.twitter.com/1gFqWVq6ay

— Diana (@InvestWithD) August 4, 2025

The closed-door meeting agenda encompasses various enforcement matters, including the institution and settlement of injunctive actions, administrative proceedings, and litigation claims. Fagel noted that the SEC needs approval before August 15 to prevent procedural complications with required status reports.

Institutional Interest Drives XRP Accumulation

Large investors have increased their XRP positions ahead of the anticipated legal developments. Whale Alert reported a substantial transfer of 20 million XRP tokens worth approximately $60.6 million from South Korean exchange Upbit to an unknown wallet on August 22.

Market analysts suggest that South Korean trading activity significantly influences XRP’s price movements due to high trading volumes on Upbit and other Korean platforms. The selling pressure from these exchanges appears to have decreased, coinciding with XRP’s recent price recovery and continued institutional rotation from Bitcoin.

XRP currently trades around $3.04, with recent 24-hour trading ranges between $3.00 and $3.10. Technical analysts have identified near-term price targets at $3.03, $3.13, and $3.30, with the $3.34 level representing a key Fibonacci retracement point for further upward movement.

Potential Market Implications

The anticipated resolution of the SEC appeal could provide regulatory clarity that institutional investors have been waiting for. However, mixed market signals and reduced trading volumes suggest cautious optimism rather than overwhelming bullish sentiment in the near term.