cryptovibes.com
The prices of XRP have increased significantly in the last 30 days. The price spike came amid the decline in the Crypto market and the reaction to the latest XRP lawsuit news.
The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is yet to get the much-awaited Summary Judgment. Nonetheless, the latest filings indicate that both parties requested the court to set a deadline for sealing the Summary Judgment Materials.
Ripple Looks For Deadline In XRP Lawsuit
Based on the latest news, James Filan reported that the US SEC and Ripple urged the district court to set a deadline of January 4, 2023, for sealing portions that are related to these briefs. If not then waive all objections to the court’s ruling on the parties’ sealing application.
Ripple’s letter mentions that these omnibus motions to seal the Parties are already due to get filed on December 22, 2022. It also added that the parties will try to offer notice to all non-parties whose confidential discovery documents will appear in the Summary Judgment materials. Nonetheless, giving clarity about the sealing motion will provide them with a chance to effectively redact these materials.
It also stated that the court earlier approved a similar process for addressing non-party sealing motions related to Daubert Motions.
Are Whales On An XRP Buying Spree?
According to data published by WhaleAlert, 143 million XRP tokens (worth around $55 million) were moved to a mysterious wallet. The move landed after both parties filed for deadlines in the XRP lawsuit. Nonetheless, the prices of XRP have surged in the last 30 days. This price spike has come amid the recent drop in the crypto market.
XRP is trading at an average price of $0.389, at the time of publication. But, its price has plunged by nearly 2% in the last 24 hours. Its 24-hour trading volume currently stands at $511 million.
Reports emerged that more than 4 billion XRP tokens were moved in many transactions from the Bittrex crypto exchange.