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Hot Development in XRP: SEC And Ripple Met For the First Time at a Common Point!


The legal battle between the US Securities and Exchange Commission (SEC) and Ripple (XRP) has not yet received the most anticipated summary Decisionby the entire crypto world. However, the latest incoming information indicates that both sides have requested the court to set a deadline for the sealing of summary judgment materials. Both sides seem to be bored with the case.

Ripple Wants a Deadline in the XRP Case

James Filan reported that Ripple and the US SEC have asked the district court to set a deadline of January 4, 2023 for the sections related to the summaries to be sealed. Otherwise, they will waive their objections to the court’s decision on the parties’ application for sealing, he said.

Ripple’s letter states that the parties’ sealing requests should be submitted on December 22, 2022. The parties added in the letter that all non-parties will be notified about the information, the confidential discovery documents of which will be included in the summary judgment materials.

With all this, it seems that the clarification by the court regarding the sealing request will give them the opportunity to redact these materials. The court’s statement also said it had previously approved a similar process to handle non-party sealing motions in relation to Daubert Motions.

Are Whales Going On an XRP Buying Spree?

WhaleAlert reported that 143 million XRP tokens (worth about $ 55 million) were moved to an unknown wallet. This move took place after both parties requested an extension of time in the XRP case. However, XRP prices have increased over the past 30 days. This price jump came amid the recent decline in the crypto market.

XRP is trading at an average price of $0.387 at press time. However, its price has fallen by about 2% over the past 24 hours. the 24-hour trading volume is at the level of 515 million dollars. Coingape reported that more than 4 billion XRP tokens were moved from the Bittrex crypto exchange in multiple transactions.

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