XRP Lawsuit – Ripple, SEC Seeks Deadline; Whales Move 143 million XRP
XRP Lawsuit updates: The U.S Securities and Exchange Commission (SEC), and Ripple are still fighting for the most awaited Summary Judgement. The court has now received the latest fillings indicating that both parties requested a deadline for sealing Summary Judgment Materials.
Ripple seeks deadline in XRP lawsuit
James Filan reported that Ripple, the US SEC, asked the district court for a January 4, 2023 deadline for sealing briefs. If the court does not agree to seal the briefs, the parties may waive their objections.
Ripple’s letter stated that the Omnibus Motions to Seal the Parties are due to be filed on December 22, 2022. The parties will attempt to notify all parties whose confidential discovery materials will be included in the Summary Judgment material. They will have the opportunity to redact these materials if they are clarified about the sealing motion.
It also stated that the court had approved a similar process to address non-party sealing motions related to Daubert Motions.
Are whales on an XRP buying frenzy?
WhaleAlert reported that 143,000,000 XRP tokens, worth approximately $55 million, were moved to an unidentified wallet. After both parties filed deadlines in the XRP suit, this move was made. However, XRP has seen a surge in the last 30 days. This price rise has occurred amid recent declines in the crypto market.
At press time, XRP trades at an average price $0.387. Its price has fallen by approximately 2% in the last 24 hours. Its 24 hour trading volume is $515 million.
Coingape reported that more than 4 billion XRP tokens had been moved in multiple transactions using Bittrex’s crypto exchange.
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