Ripple, SEC Seeks Deadline; Whales Move 143 Million XRP

The legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple is yet to get the most awaited Summary Judgment. However, the latest fillings show that both parties requested the court to set a deadline for sealing the Summary Judgment Materials.

Ripple seeks deadline in XRP lawsuit

James Filan reported that Ripple and the US SEC asked the district court to set a deadline of January 4, 2023, for sealing portions related to the briefs. If not then waive any objections to the court’s ruling on the parties’ sealing application.

Ripple’s letter mentions that the omnibus motions to seal the Parties are already due to be filed on December 22, 2022. It added that the parties will try to provide notice to all non parties whose confidential discovery documents will appear in the Summary Judgment materials. However, giving clarity regarding the sealing motion will give them an opportunity to redact those materials.

It added that the court earlier approved a similar process for addressing non-party sealing motions in relation to Daubert Motions.

Are whales on an XRP buying spree?

WhaleAlert reported that 143 million XRP tokens (worth approx $55 million) were moved to an unknown wallet. This move landed after both parties filed for deadlines in the XRP lawsuit. However, XRP prices have surged over the past 30 days. This price jump has come amid the recent decline in the crypto market.

XRP is trading at an average price of $0.387, at the press time. However, its price has dropped by around 2% over the past 24 hours. Its 24 hour trading volume stands at $515 million.

Coingape reported that over 4 billion XRP tokens were moved in multiple transactions from the Bittrex crypto exchange.