Whales trade over 100 million XRP as an attorney anticipates another SEC trial

According to Scott Chamberlain, the ongoing dispute between Ripple [XRP] and the SEC may result in a new judicial process. The blockchain attorney and creator of Evernode XRPL maintained this position in response to a tweet on an order prohibiting expert testimony from both sides.

Chamberlain cited many problems in both Ripple’s and the regulator’s arguments in support of his position. The businessman acknowledged several factors but claimed that some evidence was still unclear. Chamberlain sent out the following tweet:

“The SEC removed the expert’s evidence about why customers purchased XRP. It is unclear what, if any, evidence exists to support the SEC’s claim that anybody who purchased XRP did so intending to benefit significantly or primarily from Ripple’s efforts.”

Whale Alert indicated that substantial quantities of XRP shifted wallets amid the division. According to the real-time capital movement tracker, around 112 million XRP were moved from one address to another in twenty-four hours.

Yet, the swap of wallets had minimal effect on the price of XRP. According to CoinMarketCap, XRP has risen 4.05 percent in the previous twenty-four hours. Contrary to the attitude shown by the vast majority of the cryptocurrency market, this occurred.

XRP volume increased to 1.68 billion in addition to the price rise and whale transactions. The indicator shows market vitality and demand for a particular asset. As the price and volume of XRP increased, the present trend was strengthened to the upside.

Also Read: The U.S. Government Transfers $1 Billion In Seized Silk Road BTC

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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