XRP price Today, it broke the speculations in the market by recording an increase of approximately 3%. It bolstered investor confidence after Ripple locked 800 million tokens in escrow. At the same time, significant whale activity is being highlighted amid ongoing developments in SEC litigation.
According to Whale Alert, a single whale transferred approximately 60 million XRP to two crypto exchanges. It is also noteworthy that the same whale has transferred a significant amount of tokens to these exchanges in recent days.
As we reported as Koinfinans.com, the movement of the whale identified with the wallet address “r4wf7….h4Rzn” attracts attention. It showed that he shifted 31.87 million XRP, worth approximately $16.65 million, to the Bitso exchange. In addition, the same whale transferred 28.85 million tokens worth approximately $15.09 million to the Bitstamp exchange.
The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) continues with a detailed letter in support of the petition filed on April 22, 2024. Ripple aims to challenge the admissibility of expert testimony offered by the SEC, focusing specifically on Andrea Fox’s testimony, which it argues goes beyond basic arithmetic.
The SEC defends Fox’s testimony as a simple summary of financial data and claims that it does not meet the criteria for an expert witness.
However, commenting on the developments, pro-XRP lawyer Bill Morgan predicts that Ripple will lose the case but will receive permission to take Fox’s testimony, which will lead to discussions in the cryptocurrency market. Similarly, attorney Jeremy Hogan predicts that the SEC will win the case, suggesting that even if Fox were admitted as an expert witness, Ripple would likely be allowed to take Fox’s testimony rather than reject it outright.
