Whales Transfer 180M XRP as Judge Issues New Order in Ripple Lawsuit
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XRP whales transferred 180 million coins today, fueling speculation following a significant legal order from a Magistrate Judge in the Ripple vs. SEC lawsuit.
As XRP’s price shows a hopeful trend, recent whale movements have sparked interest in the cryptocurrency market. The transfer of over 180 million XRP tokens across several transactions has generated speculation, aligning with a crucial phase in the ongoing legal dispute between Ripple Labs and the Securities and Exchange Commission (SEC).
These transfers, occurring alongside the latest updates in the Ripple lawsuit, have raised questions about their potential impact on XRP’s price.
XRP Whale Moves 180 Million Tokens, Sparking Speculation
The recent modest recovery in XRP’s price has once again drawn the interest of investors. At the same time, large XRP transactions by whales have sparked conversations within the cryptocurrency market.
As XRP’s momentum has increased, whales have made four significant transactions totaling over 180 million XRP.
Whale Alert, a blockchain transaction monitoring platform, noted these movements, including an unknown whale that acquired 26.67 million XRP from Binance. This latest purchase from the major crypto exchange has generated optimism about a potential rebound in XRP’s price.
In another significant transaction, 100 million XRP moved between two unknown wallets, prompting speculation, especially given the recent developments in the Ripple vs. SEC lawsuit. In another case, an unidentified whale transferred 27.43 million XRP to Bitstamp, raising questions about XRP’s future direction.
At the same time, the same whale, known by the wallet address r4wf7…h4Rzn, transferred 29.74 million XRP, worth $15.76 million, to Bitso exchange. This whale has made other notable XRP transfers this week, leading to speculation about the purpose of these moves.
Judge Releases New Ruling in Ripple Lawsuit
Amid a series of major XRP transfers, a key development is emerging in the ongoing legal dispute between Ripple Labs and the Securities and Exchange Commission (SEC). Magistrate Judge Sarah Netburn has set a schedule regarding Ripple’s motion to exclude the SEC’s latest expert testimonies
The order allows the SEC an extension until April 29, 2024, to file their reply, with Ripple given three business days afterward to respond.
At the time of writing, XRP’s price had risen by 1.05%, reaching $0.5320, while its 24-hour trading volume decreased by 12.74% to $1.31 billion. Despite recent increased volatility in the cryptocurrency market, XRP has still gained over 6% in the past seven days.
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