{"id":290274,"date":"2024-04-26T12:57:26","date_gmt":"2024-04-26T07:27:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/whales-shift-180m-xrp-as-judge-unveils-new-order-in-ripple-lawsuit-crypto-news\/"},"modified":"2024-04-26T12:57:30","modified_gmt":"2024-04-26T07:27:30","slug":"whales-shift-180m-xrp-as-judge-unveils-new-order-in-ripple-lawsuit-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/whales-shift-180m-xrp-as-judge-unveils-new-order-in-ripple-lawsuit-crypto-news\/","title":{"rendered":"Whales Shift 180M XRP As Judge Unveils New Order In Ripple Lawsuit – Crypto News"},"content":{"rendered":"

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Amid a glimmer of hope in XRP\u2019s price trajectory, recent whale activities have set the cryptocurrency market abuzz. The transfer of over 180 million XRP tokens in a series of transactions has sparked speculation, coinciding with a pivotal moment in the ongoing legal saga between Ripple Labs and the Securities and Exchange Commission (SEC).\u00a0<\/span>Meanwhile<\/span>, the transfers<\/span>, amid the latest development in the Ripple\u00a0<\/span>lawsuit<\/span>\u00a0have<\/span>\u00a0sparked speculations<\/span>\u00a0over its potential impact on the XRP price.<\/span><\/p>\n

XRP Whale\u2019s 180 Mln Transfer Sparks Speculations<\/span><\/h2>\n

The XRP crypto has once again captured the attention of investors amid a modest recovery in its price. However, recent massive XRP transactions by whales have stirred discussions within the cryptocurrency<\/a> market.<\/span><\/p>\n

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In tandem with the resurgence in XRP\u2019s momentum, whales have orchestrated four transactions involving over 180 million XRP. Whale Alert, an on-chain transaction tracking platform, reported significant movements, including a transaction by an unknown whale accumulating 26.67 million XRP from Binance<\/a>. Notably, this latest accumulation from the leading crypto exchange<\/a> has sparked optimism in the market over a potential recovery in the XRP price.<\/span><\/p>\n

Meanwhile, in another notable transaction, 100 million XRP shuffled between two unknown wallets, fueling speculation, especially amid the latest development in the Ripple Vs. SEC lawsuit.\u00a0<\/span>On the other<\/span>, an unidentified whale shifted 27.43 million XRP to Bitstamp, raising questions over the XRP\u2019s future trajectory.<\/span><\/p>\n

Simultaneously, the same XRP whale<\/a>, identified by the wallet address r4wf7\u2026<\/span>h4Rzn,<\/span>\u00a0has\u00a0<\/span>once<\/span>\u00a0again transferred 29.74 million XRP, worth $15.76 million, to Bitso exchange. Notably, the whale has also made significant XRP transfers this week, sparking speculations over the motive behind the transfers.<\/span><\/p>\n

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Meanwhile, speculation soars regarding these transactions, with interpretations ranging from strategic sell-offs to Ripple\u2019s liquidity management strategy, given its ties with Bitstamp. The intertwined relationship between Bitstamp and Ripple in cross-border payments further complicates the analysis, as Ripple often employs XRP transfers for global fund transfers.<\/span><\/p>\n

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Also Read: Dogecoin Whales Move 456 Mln DOGE To Coinbase, Price At Risk?<\/a><\/strong><\/p>\n

Judge Issues New Order In Ripple Lawsuit<\/span><\/h2>\n

Amid the\u00a0<\/span>series of<\/span>\u00a0significant XRP transfers, a pivotal development unfolds in the ongoing legal battle between Ripple Labs and the Securities and Exchange Commission (SEC). Magistrate Judge Sarah Netburn has issued a scheduling order on Ripple\u2019s<\/a> request to drop the SEC\u2019s recent expert submissions.\u00a0<\/span><\/p>\n

Meanwhile, the order grants the SEC an extension until April 29, 2024, to submit their reply, with Ripple having three business days to respond\u00a0<\/span>thereafter<\/span>.\u00a0<\/span>Notably,<\/span>\u00a0Judge Netburn\u2019s<\/a> recent nomination as District Judge in the Southern District of New York underscores her continued oversight of the Ripple vs. SEC case.<\/span>\u00a0<\/span><\/p>\n

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However, it\u2019s worth noting that Judge Netburn\u2019s impartial rulings, perceived favorably by the crypto community, maintain the integrity of the legal process amid the evolving landscape of crypto regulations<\/a>.<\/span><\/p>\n

As of writing, the XRP price<\/a> was up 1.05% and traded at $0.5320, while its one-day trading volume fell 12.74% to $1.31 billion.\u00a0<\/span>However, despite the heightened volatility in the crypto market\u00a0<\/span>recently<\/span>, the crypto has\u00a0<\/span>managed to add<\/span>\u00a0over 6% over the last seven days.<\/span><\/p>\n

Also Read: Pantera Capital to Raise $1 Billion Capital For Its New Crypto Fund<\/a><\/strong><\/p>\n

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience. <\/p>\n<\/p><\/div>\n

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