XRP Jumps 2.5% Following A Filing By Ripple’s CFO in the Ongoing Litigation

Published 14/05/2024, 13:15
© Reuters.  XRP Jumps 2.5% Following A Filing By Ripple’s CFO in the Ongoing Litigation
XRP/USD
-

Coin Edition -

  • Ripple’s CFO has filed a declaration supporting the firm’s motion to seal its omnibus letter motions.
  • A whale transferred 280 million Ripple shortly after the CFO’s filing.
  • XRP jumped 2.5% on Tuesday following significant whale activity.

Ripple’s Chief Financial Officer (CFO) Jonathan Bilich has filed a declaration in support of Ripple’s motion to seal the firm’s recently filed omnibus letter motions. Ripple filed the letter on May 13 to seal critical details regarding the remedies-related documents. Following the CFO’s filing, the XRP ecosystem experienced a significant transfer of tokens, leading to a price impact on the embattled altcoin.

Following the recent filing, onchain data reflected that nearly 280 million XRP changed hands between Ripple and a centralized exchange (CEX). According to details from the blockchain tracker Whale Alert, a crypto whale moved 279.97 XRP from an unknown wallet to an address on the Bitstamp crypto exchange.

Whale Alert’s report showed the transaction happened in installments, with the last tranche involving a transfer of 29.97 million XRP from the unidentified wallet to Bitstamp.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.