XRP surges to $0.51 as ETH and BTC hit new all-time highs
After holding at the $0.46 mark on Tuesday, XRP token has now managed to rise to the $0.53 level and, at press time, is trading at $0.51, according to data shared by CoinMarketCap.
So far, XRP has made it back into the top five, having reclaimed fifth place from Polkadot (DOT).
Recently, XRP has risen from the $0.37 price mark up to the present level as Bitcoin and Ethereum have been growing in price: Ethereum has surged from the $1,524 area to yesterday’s all-time high of $1,800.
As for the flagship cryptocurrency, Bitcoin has scored two consecutive all-time highs since Monday, Feb. 8: $44,000 and $48,000.
Both ATHs were driven by Tesla’s announcement about allocating almost ten percent of its cash reserved, an eye-popping $1.5 billion, into Bitcoin.
Technical Analysis (Weekly Crypto Price Prediction) XRP/USDT
Whale Alert has detected that, over the past 17 hours, Huobi crypto trading giant and large cryptocurrency owner has shifted a mammoth-sized amount of crypto: 610 million XRP tokens.
In fiat, this represents $278,594,530.
Huobi wires almost $279 million, Coinbase shifts 10 million XRP
According to data presented to the community by Whale Alert crypto tracker, in the last 17 hours, China-based Huobi exchange has wired approximately 600 million XRP tokens (around $273 million) in three transactions.
The transfers carrying 100 million, 200 million and 300 million XRP were conducted between the internal wallets of the exchange, possibly between hot and cold storage vaults.
In a separate tweet, Whale Alert also noted that a crypto wallet with an anonymous owner had sent 10 million XRP to Binance. According to data from Bythomp analytics provider, the sender was Coinbase exchange.
Ripple Could Be Forced to Turn Over Its Emails with SEC
In a recently filed motion, Bradley Sostack, the lead plaintiff in a class-action lawsuit against Ripple, is asking the court to compel the blockchain company to produce its e-mail communications with the U.S. Securities and Exchange Commission and turn over its documents starting from Jan. 1, 2015.
Moreover, Sostack wants Ripple to remove redactions from its documents apart from those that were redacted for privilege. The plaintiff states that the defendant’s privilege claims should be “explicit and specific.”
Ripple’s refusal to provide a log for its privileged redactions is described as “pure gamesmanship” since they are required to explicitly specify the nature of redacted parts under federal law.
The plaintiff claims that all “improper” redactions that are related to privacy, confidentiality, etc., have to be removed.
A court hearing on the motion has been scheduled for March 25, 2021.
Ripple’s settlement talks with the SEC
Prior to front-running the announcement of the SEC’s lawsuit in late December, Ripple unsuccessfully tried to settle with the regulator, according to CEO Brad Garlinghouse.
While Ripple asserts that its settlement communications with the SEC are irrelevant, Sostack is asking the judge to force the company to produce them.
The motion states that the e-mails between the SEC and Ripple are important because they deal with the same issue that it at the heart of Sostack’s class-action lawsuit: XRP’s status as a security.