Ripple CFO Files Legal Declaration as 280M XRP (XRP) Transfers Highlighted in Ongoing Lawsuit

  • On-chain data reveals a massive 280M XRP transfer amid the ongoing Ripple vs. SEC lawsuit.
  • Ripple’s CFO has filed a declaration of support to seal crucial documents related to the Judgement & Remedies motion.
  • Following these developments, XRP’s price has seen a significant increase.

Discover the latest developments in the ongoing Ripple vs. SEC lawsuit, including a massive XRP transfer and Ripple’s CFO’s declaration to seal key documents. Plus, learn how these events have impacted XRP’s price.

280M XRP Moved Amid Ripple vs. SEC Lawsuit

As the U.S. SEC vs. Ripple lawsuit continues, on-chain data has revealed a staggering 280 million XRP tokens were transferred. This significant movement coincides with Ripple’s CFO, Jonathan Bilich, filing a declaration of support for Ripple’s motion to seal key details in remedies-related documents. The motion was filed on May 13, marking a new turn in the ongoing legal battle.

Ripple CFO Supports Motion to Seal Documents

Jonathan Bilich, Ripple’s CFO, has filed a declaration in support of Ripple’s motion to seal certain documents linked to the SEC’s Motion for Judgement and Remedies. The motion aims to protect highly confidential information, including financial figures from Ripple’s non-public audited financial statements, sensitive financial terms of contracts with third parties, and internal financial reports regarding business strategies.

XRP Price Increases Following Developments

In the wake of these developments, XRP’s price has seen a notable increase. At the time of writing, XRP’s price has risen by 3.20% in the past 24 hours, trading at $0.5071. The token’s 24-hour trading volume has also seen a significant rise of 44.20%, reaching $859.07 million. This price upswing comes amid the lawsuit’s recent developments and significant whale activity.

Conclusion

The ongoing Ripple vs. SEC lawsuit continues to influence the crypto market, particularly impacting XRP’s price. With Ripple’s CFO supporting the motion to seal key documents and a massive 280M XRP transfer, the market has seen significant activity. As the lawsuit progresses, market watchers will be keen to see how further developments influence XRP’s price and the wider crypto market.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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