XRP lawsuit: Ripple, SEC seek deadline; whales move 143 million XRP

The legal battle between the Securities and Exchange Commission (SEC) and Ripple has yet to get the most anticipated summary judgment. However, the latest fillings show that both sides have asked the court to set a deadline to seal the summary judgment materials.

Ripple seeks delay in XRP lawsuit

James Filan reported that Ripple and the U.S. SEC have asked the district court to set a deadline of January 4, 2023, to seal the parts relating to the pleadings. Otherwise, they waive any objection to the court’s ruling on the request to seal the parts.

The Ripple Letter mentions that omnibus motions to seal the parties are already due on December 22, 2022. It adds that the parties will endeavor to notify all unaffected parties whose confidential discovery materials will appear in the summary judgment materials. However, clarifying the motion to seal will give them the opportunity to draft those documents.

#XRPCommunity #SECGov v. #Ripple #XRP Parties request that the Court set a deadline of January 4, 2023 by which non-parties must ask to seal any portions of the Summary Judgment Materials or else waive any objections to the Court’s ruling on the Parties’ sealing applications. pic.twitter.com/J16zv6URDp

– James K. Filan 🇺🇸🇮🇪 126k (beware of imposters) (@FilanLaw) December 9, 2022

He added that the court had previously approved a similar process for dealing with non-party sealing motions in connection with the Daubert motions.

Are whales buying XRP en masse?

WhaleAlert reported That 143 million XRP tokens (worth about $55 million) have been moved to an unknown wallet. This move landed after both sides filed deadlines in the XRP lawsuit. However, XRP prices have surged over the past 30 days. This price jump came in the midst of the recent decline in the crypto-currency market.

🚨 🚨 🚨 🚨 🚨 143,000,000 #XRP (55,960,040 USD) transferred from unknown wallet to unknown wallethttps://t.co/L7ZXlsCY70

– Whale Alert (@whale_alert) December 9, 2022

XRP is trading at an average price of $0.387, at press time. However, its price has dropped by about 2% in the past 24 hours.