Ripple, SEC Calls for Deadline; whales move 143 million XRP

The legal battle between the Securities and Exchange Commission (SEC) and Ripple has yet to achieve the much-anticipated summary judgment. However, recent filings show that both sides have asked the court to set a deadline to seal the summary judgment materials.

Ripple asks for a delay in the XRP lawsuit

James Filan reported that Ripple and the US SEC have asked the District Court to set a deadline of January 4, 2023 to seal the memorandum portions. Otherwise, they waive any objection to the court’s decision regarding the parties’ application for sealing.

Ripple’s letter mentions that the omnibus motions to seal the parties must be filed as early as December 22, 2022. She adds that the parties will endeavor to notify all unaffected parties whose confidential discovery documents will appear in the judgment summary. However, a clarification of the sealing proposal will allow them to prepare these documents.

He added that the court had previously approved a similar process for handling non-party sealing motions in relation to the Daubert motions.

Are whales buying XRP in droves?

WhaleAlert reported that 143 million XRP tokens (worth about $55 million) were moved to an unknown wallet. This move landed after both sides filed deadlines in the XRP case. However, XRP prices have increased over the past 30 days. This price jump came amid the recent decline in the cryptocurrency market.

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

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