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In a major XRP transfer, a whale account moved over 105 million XRP tokens, valued at approximately $76.5 million, from Binance to an undisclosed wallet. This transaction followed a recent court ruling in favor of Ripple Labs, intensifying speculation around the XRP community.
Insight Into XRP Whale & Ripple Lawsuit Saga
The latest XRP whale suggests an accumulation on the whale’s side as he might have opted to capitalize on the gains that follow the positive order. In the recent progression in the Ripple lawsuit, Judge Phyllis Hamilton granted an order supporting Ripple Labs, XRP II LLC, and its CEO Brad Garlinghouse.
🚨 🚨 🚨 🚨 105,319,692 #XRP (76,560,557 USD) transferred from #Binance to unknown wallethttps://t.co/cvZGxZeSgy
— Whale Alert (@whale_alert) November 14, 2024
According to court documents, this decision stems from a joint motion by both parties, requesting final judgment on class claims brought against Ripple. “The Court finds that final judgment should be entered pursuant to Rule 54(b) with regard to Plaintiff’s class claims that were resolved in Defendants’ favor in the Court’s Order and Opinion Granting In Part and Denying In Part Defendants’ Motion for Summary Judgment,” noted Judge Hamilton in her ruling.
Why Is This Decision Important?
This decision marks a pivotal moment in the ongoing legal battle over XRP’s classification. The court’s order focused on several central claims against Ripple, including alleged unregistered securities sales and accusations under California securities laws. Ripple and Garlinghouse had been implicated as control persons in the lawsuit, but the latest judgment reflects the court’s stance on these contested points, favoring Ripple.
Last month, Ripple petitioned for a final ruling on class claims and requested a stay on certain state law claims until additional resolution could be reached. The court also urged the parties to explore possible alternative solutions for individual claims that are still unresolved. With this recent judgment, the court has set January 21, 2025, as the trial date for the remaining claims while suspending pretrial activities until further notice.