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Ripple’s (XRP) latest whale actions have attracted the attention of crypto players. The entities have shifted more than 180 million coins in various transactions.
The massive token transfers triggered speculations as they corresponded with crucial developments in the legal fight between the Securities & Exchange Commission and Ripple Labs.
Judge Netburn issued a new order on the crypto firm’s bid to drop the regulator’s latest expert submissions.
Ripple Whales on the move
While XRP sees a momentum resurgence, dip-pocketed players have executed four transfers involving more than 180 million assets.
The transactions included an accumulation of 26.67 million tokens from Binance, catalyzing optimism about possible XRP price recovery.
Another move by whales saw 100 million tokens shifted between two unidentified addresses.
🚨 🚨 🚨 100,000,000 #XRP (52,975,509 USD) transferred from unknown wallet to unknown wallethttps://t.co/JAFcVCf0E1
— Whale Alert (@whale_alert) April 25, 2024
The transaction sparked speculation due to the new developments in the ongoing Ripple vs. SEC battle.
Moreover, an unknown whale moved 27.43 million assets to Bitstamp. Simultaneously, wallet r4wf7…h4Rzn made another transfer of 28.27 million coins (worth approximately $15.139 million) to the same exchange.
🚨 28,270,000 #XRP (15,139,951 USD) transferred from unknown wallet to #Bitstamphttps://t.co/UfoAsV7PCd
— Whale Alert (@whale_alert) April 24, 2024
The address had made various substantial XRP transactions this week, raising questions about the motivation.
SEC vs. Ripple new developments
Amidst the significant transfers by Whales, the crypto firm saw new updates on the SEC lawsuit. Judge Sarah Netburn unveiled a new order on Ripple’s demand to decline the watchdog’s latest expert submissions.
#XRPCommunity #SECGov v. #Ripple #XRP @Ripple has filed a Motion to Strike new expert materials the SEC submitted in support of its Motion for Remedies and Entry of Final Judgment.https://t.co/k8M84DxDiz
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) April 22, 2024
The scheduled order gives the securities regulators an extension to 29 April 2024, to reply. Moreover, Ripple will have to respond within three business days.
Notably, Netburn’s latest nomination as a judge confirms his dedication to the SEC vs. Ripple suit.
WOW! 💥
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) April 25, 2024
Pro-Crypto Magistrate Sarah Netburn has been nominated to serve as the District Judge for the South District of New York! 👩🏻⚖️
She is currently presiding over the Ripple vs. SEC case! ⚖️
Check out her opinion on #XRP 🙌🏼https://t.co/szMfEvptKw pic.twitter.com/uocfPIvXKd
While the crypto community could be optimistic about the Judge’s unbiased rulings, it’s noteworthy that Netburn maintains integrity, following legal processes while navigating the changing world of cryptocurrency regulations.
XRP’s current price outlook
The remittance token saw slight recoveries, gaining 0.65% over the last day to $0.5268.
Its daily trading volume dropped by 12.20% to press time levels of $1,317,752,753.
Meanwhile, XRP jumped 6% last week despite amplified volatility in the broad market.
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