Strike

April

James

As the <a href="https://news.todayq.com/sec-vs-ripple-a-crucial-battle-crypto-industry/" rel="noopener noreferrer nofollow">legal tussle</a> between the US Securities and Exchange Commission and Ripple Labs moves to another leg, crypto whales are making their move. XRP is already dealing with high selling pressure and not so in favor sentiments. The recent transactions have raised speculation of a further decline. XRP whales on the move 
Data shared by Whale Alert shows that the crypto whales have moved more than 253 million XRP tokens (approx worth $136 million) in multiple transactions over the last 24 hours. However, the biggest transaction recorded by the tracker has been of moving 100 million XRP (approx worth $53 million) among unknown wallets.
Whales moved a total of 46.96 million XRP from the crypto exchange Binance to undisclosed wallets. These transactions included 20,285,592 XRP and 26,675,395 XRP respectively. The cumulative worth of these transactions stood at $24.86 million. This move suggests the big wallets bought the dip.
XRP price is down by more than 14% on the year to date (YTD) basis. Recovery is still expected by the Ripple community. XRP is trading at an average price of $0.52, at the press time. Its 24 hour trading volume is down by 25% to stand at $1.81 billion. It is still holding a market cap of $28.8 billion. Ripple case updates 
Defense attorney James Filan provided updates on the SEC vs. Ripple case, stating that Magistrate Judge Netburn issued a scheduling order regarding Ripple’s Motion to Strike new expert materials submitted by the SEC in support of its Motion for Remedies and Entry of Final Judgment. The order grants the SEC until April 29 to respond to Ripple’s Motion to Strike, with Ripple having three business days after that to file a reply brief.
The briefing schedule specifically pertains to Ripple’s Motion to Strike, not the timing of the SEC’s response to Ripple’s opposition brief. Filed on April 22, Ripple’s Motion to Strike seeks to remove new expert materials supporting the SEC’s opening brief. Ripple alleges that the SEC failed to disclose the identity and testimony of accountant Andrea Fox, who examined Ripple’s financial statements.
Fox’s testimony is crucial as she supports the SEC’s case for a $2 billion penalty against Ripple. Notably, the SEC attempted to designate Fox as a summary witness, restricted to summarizing existing material. Both parties agreed to a five-day window for the SEC to oppose Ripple’s Motion to Strike, with filings approaching the May 6 deadline for the SEC’s reply brief.

XRP whales shift $136M as SEC vs Ripple battle moves in next phase

Todayq News

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