Over 4 Billion XRP Moved As Ripple Awaits Summary Judgment

XRP, Ripple native crypto is trading under increased selling pressure as the global crypto market decline continues. Meanwhile, comments and rulings coming out of the Ripple lawsuit have directly impacted the XRP price in the long game. However, Ripple and SEC are seeking a Summary Judgement in their favor.

Are Whales moving XRP?

As per the data provided by WhaleStats, more than 4 billion XRP tokens have been moved in multiple transactions. Data depicts that around $1.5 billion worth of XRP was moved from the Bittrex crypto exchange to an unknown wallet. This move is expected to be related to the positive XRP news.

The biggest transaction recorded by the tracker has been of moving 500 million (approx worth $189.3 million) from the exchange.

However, whales have been on a buying spree of XRP tokens. Coingape reported that Whales moved more than 143 million XRP tokens amid the price dip.

On the market side, the XRP price is down by 20% over the past 30 days. XRP is trading at an average of $0.378, at press time. Its 24 hour trading volume stands at around $900 million. However, XRP is still holding a market cap of more than $19 billion despite facing a lawsuit from the US SEC.

Who’s winning the XRP lawsuit?

The crucial lawsuit between Ripple and SEC has submitted their briefs to the US district judge urging them to provide Summary Judgment in favor. Filings asked Judge Analisa Torres to not so pass the case to trial.

Stuart Alderoty, Ripple’s General Counsel mentioned that this is just the beginning of the end with the SEC lawsuit.