The cryptocurrency whale sold $14.9 million worth of XRP coins after learning of the news of a class action lawsuit being filed against asset issuing company Ripple Labs. Ripple and the director of the company, Brad Garlinghouse, were accused of violating the securities law in force in the American state of California. The basis for this was the fact that the organization sold XRP without the necessary registration, which, according to the plaintiffs, were securities. Representatives of Ripple did not admit guilt in the alleged offense and stated that XRP does not relate to securities, so the company was not obliged to register with regulators. However, the plaintiffs, among whom were people who bought XRP from July 3, 2017 to June 30, 2023, intend to defend their interests in court in order to force the issuer to compensate for losses. collected as a result of the acquisition of digital assets. On February 26, a few hours after news of a new lawsuit against Ripple appeared, the whale transferred 27 million XRP worth $14.9 million at the exchange rate at that time to the Bitstamp exchange, obviously to sell coins. In addition, information about the legal battle that Ripple will go through could prevent the emergence of a bullish trend. Over the past 24 hours, the coin has risen in price by only 0.44%, while the price of the main cryptocurrency Bitcoin increased by 9.47%, Ethereum (ETH) - by 3.84%, and BNB (BNB) - by 2.89%.
