XRP News: The Ripple vs. US Securities and Exchange Commission (SEC) involving the XRP token is marching towards the Summary Judgment announcement. While waiting for a positive result, crypto whales continue their XRP accumulation.
Amicus Curiae files a motion in an XRP lawsuit
Attorney James Filan reported that attorney Rodrigo Seira filed a motion to appear as Pro Hac Vice on behalf of Amicus Curiae Paradigm Operations LP. Paradigm is a company that supports digital asset related and Web3 businesses.
The company mentioned in its motion that in the XRP lawsuit, the SEC rhetoric goes beyond what the claims require or the law supports. The commission claims that the XRP tokens and by extension many other crypto assets are securities.
It added that the distinction between offer and sell transactions and underlying crypto assets is critical.
Whales move Ripple’s token
However, the crypto whales have moved more than 111 million XRP tokens in the past 24 hours. According to data, about $42.6 million worth of XRP tokens have been moved in the past day.
A whale bought $15.9 million worth of XRP tokens from the Bitso crypto exchange in a single transaction. This large accumulation is due to the recent price dump.
The price of XRP is down about 5% in the past 24 hours. Ripple’s native token is trading at an average price of $0.364 at the time of writing. XRP has a 24-hour trading volume of approximately $851.9 million.
Meanwhile, some whales have moved some 70 million XRP tokens to the Bitstamp crypto exchange in the past 24 hours. About $26.6 million in XRP tokens were moved in multiple transactions to dump.
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This post Amicus Curiae File request; Whales add 111 million XRP
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