{"id":296125,"date":"2023-03-09T12:00:04","date_gmt":"2023-03-09T06:30:04","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=296125"},"modified":"2024-01-30T02:16:50","modified_gmt":"2024-01-29T20:46:50","slug":"ripple-whales-move-100m-xrp-as-attorney-predicts-another-sec-trial","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ripple-whales-move-100m-xrp-as-attorney-predicts-another-sec-trial\/","title":{"rendered":"Ripple: Whales move >100M XRP as attorney predicts another SEC trial"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">Legal counsel suggested that the Ripple case with the SEC could end in trial.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">XRP could breakout as whales moved large amounts of tokens.<\/span><\/i><\/li>\n<\/ul>\n<p><i><\/i><span style=\"font-weight: 400;\">The unending <\/span><span style=\"font-weight: 400;\">Ripple [XRP] <\/span><span style=\"font-weight: 400;\">tussle with the SEC might end in another legal proceeding, according to Scott Chamberlain. The blockchain lawyer and founder of Evernode XRPL, stood this ground while responding to a tweet about the <\/span><a href=\"http:\/\/ambcrypto.com\/exploring-xrps-price-action-as-ripple-files-fair-notice-defense\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">ruling<\/span><\/a><span style=\"font-weight: 400;\"> on both parties to preclude expert testimonies.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">After further thought, four key takeaways for me:<br \/>1. It seems more likely there will be a trial because this decision results in conflicting expert testimony that muddies a summary judgement application. So many facts at issue. There is a caveat, though&#8230;<\/p>\n<p>&mdash; Scott Chamberlain | \ud83c\udff4\u200d\u2620\ufe0f \ud83e\ude9d (@scotty2ten) <a href=\"https:\/\/twitter.com\/scotty2ten\/status\/1633225437529903105?ref_src=twsrc%5Etfw\">March 7, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/ripple-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Ripple\u2019s [XRP] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-2024<\/span><\/p>\n<hr \/>\n<h3><b>Whales caught in the divide<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Giving his reasons, Chamberlain pointed out some flaws in the cases presented by both Ripple and the regulator. Although he admitted that there were many facts at play, the entrepreneur said that a few pieces of evidence remained unclear. Chamberlain tweeted:\u00a0<\/span><\/p>\n<blockquote><p>\u201cThe SEC\u2019s expert had his testimony on why people bought XRP excluded. It\u2019s unclear what if any evidence remains on record to support the SEC argument that anyone bought XRP expecting profits solely or substantially from Ripple\u2019s efforts\u201d<\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">However, the legal practitioner\u2019s opinion resulted in disagreement on the social media platform. Some mentioned that Chamberlain was in Ripple\u2019s support; hence his biased view. Others did not align with the talk of a further trial.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Amid the divide, Whale Alert reported that large amounts of XRP moved wallets. According to the real-time capital movement tracker, about 112 million XRP was transferred from address to address in the last 24 hours.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8  42,000,000 <a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&amp;ref_src=twsrc%5Etfw\">#XRP<\/a> (16,098,744 USD) transferred from unknown wallet to <a href=\"https:\/\/twitter.com\/hashtag\/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitstamp<\/a><a href=\"https:\/\/t.co\/RFvTG2uadX\">https:\/\/t.co\/RFvTG2uadX<\/a><\/p>\n<p>&mdash; Whale Alert (@whale_alert) <a href=\"https:\/\/twitter.com\/whale_alert\/status\/1633232952627986432?ref_src=twsrc%5Etfw\">March 7, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">However, the wallet exchange had little impact on the XRP price. According to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/xrp\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, XRP increased 4.05% in the last 24 hours. This was contrary to the sentiment shown by a much larger part of the crypto market.\u00a0<\/span><\/p>\n<h3><b>XRP: The confinement is no more a home<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Based on the daily chart, XRP had the potential to breakout. This was because the price was already following a corrective pattern after its descending channel from 23 February to 7 March.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Realistic or not, here\u2019s <\/span><a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">XRP\u2019s market cap in BTC\u2019s terms<\/span><\/a><\/p>\n<hr \/>\n<p>Following the price surge, the Relative Strength Index (RSI) also left the oversold region. At press time, the RSI was 57.37. This means that the XRP buying power was strong and bullish momentum was in play.<\/p>\n<figure id=\"attachment_296128\" aria-describedby=\"caption-attachment-296128\" style=\"width: 1552px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/XRPUSD_2023-03-08_14-08-04.png\"><img decoding=\"async\" class=\"size-full wp-image-296128\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/XRPUSD_2023-03-08_14-08-04.png\" alt=\"XRP price action\" width=\"1552\" height=\"877\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/XRPUSD_2023-03-08_14-08-04.png 1552w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/XRPUSD_2023-03-08_14-08-04-300x170.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/XRPUSD_2023-03-08_14-08-04-1024x579.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/XRPUSD_2023-03-08_14-08-04-768x434.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/XRPUSD_2023-03-08_14-08-04-1536x868.png 1536w\" sizes=\"(max-width: 1552px) 100vw, 1552px\" \/><\/a><figcaption id=\"caption-attachment-296128\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">In addition to the price increase and whale transactions, the XRP <\/span><a href=\"https:\/\/app.santiment.net\/charts\/7f_pu3sz__sCl\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">volume<\/span><\/a><span style=\"font-weight: 400;\"> rose to 1.68\u00a0 billion. The metric indicates market strength and interest in a particular asset. Since the XRP price increase and its volume did the same, it implied that the current trend was gathering strength to the upside.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, XRP exchanged hands at $0.395. However, the broader market sentiment could still affect the token price in the short term.<\/span><\/p>\n<figure id=\"attachment_296129\" aria-describedby=\"caption-attachment-296129\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-14.14.47-08-Mar-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-296129\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-14.14.47-08-Mar-2023.png\" alt=\"XRP price and Ripple volume\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-14.14.47-08-Mar-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-14.14.47-08-Mar-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-14.14.47-08-Mar-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-14.14.47-08-Mar-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-14.14.47-08-Mar-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Bitcoin-BTC-14.14.47-08-Mar-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-296129\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Legal counsel suggested that the Ripple case with the SEC could end in trial. XRP could breakout as whales moved large amounts of tokens. The unending Ripple [XRP] tussle with the SEC might end in another legal proceeding, according to Scott Chamberlain. The blockchain lawyer and founder of Evernode XRPL, stood this ground while responding<a href=\"https:\/\/ambcrypto.com\/ripple-whales-move-100m-xrp-as-attorney-predicts-another-sec-trial\/\">Continue reading <span class=\"sr-only\">&#8220;Ripple: Whales move >100M XRP as attorney predicts another SEC trial&#8221;<\/span><\/a><\/p>\n","protected":false},"author":72,"featured_media":296132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,55,4,20],"tags":[],"class_list":["post-296125","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-xrp-ripple-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ripple: Whales move &gt;100M XRP as attorney predicts another SEC trial - AMBCrypto<\/title>\n<meta name=\"description\" content=\"The unending Ripple [XRP] tussle with the SEC might end in another legal proceeding, according to Scott Chamberlain\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/ripple-whales-move-100m-xrp-as-attorney-predicts-another-sec-trial\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple: Whales move &gt;100M XRP as attorney predicts another SEC trial - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Legal counsel suggested that the Ripple case with the SEC could end in trial. 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