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What’s Going On With XRP? Court Oddity, Coinbase Futures Filing, Supply Dump Mix

What’s Going On With XRP? Court Oddity, Coinbase Futures Filing, Supply Dump Mix

CoineditionCoinedition2025/04/03 16:00
By:Parth Dubey
  • Odd ’emergency’ filing by penalized individual surfaces in Ripple vs SEC case
  • Coinbase Derivatives files with CFTC to self-certify XRP futures (launch Apr 21)
  • Ripple escrow releases 1 Billion XRPs, adding sell pressure to an already weak price

The long-running legal battle between the SEC and Ripple Labs saw a peculiar development Thursday when a surprising court filing surfaced, adding to a mix of recent news impacting XRP. 

🚨NEW: An odd filing just now in the @SECGov vs. @Ripple docket — an emergency request to “present decisive evidence in favor of the defendants and in favor of liberty for the American people.”

The letter, from a man named Justin W. Keener, doesn’t make clear what the so-called… pic.twitter.com/AQSDFIW6gi

— Eleanor Terrett (@EleanorTerrett) April 3, 2025

Odd Court Filing Surfaces in SEC vs. Ripple Case

Eleanor Terrett, host of CryptoAmerica and former FOX Business journalist, highlighted an unusual court docket entry: an “ emergency request ” letter filed by Justin W. Keener. The filing claims to present “decisive evidence in favor of the defendants [Ripple] and in favor of liberty for the American people,” though the substance remains unclear. 

Keener has a contentious history with the SEC, having recently faced suit for operating as an unregistered penny stock dealer, resulting in a court order for over $10 million in penalties. 

He maintains he possesses proprietary knowledge regarding physical investment contracts and the Howey test relevant to the Ripple case, potentially benefiting Ripple, the crypto industry, and Congress.

Related: XRP vs BTC: Glassnode Data Contrasts Retail vs Institutional Rally Paths

Coinbase Derivatives Files for XRP Futures

In separate, potentially positive news for XRP access, Coinbase Derivatives announced it filed with the Commodity Futures Trading Commission (CFTC) to self-certify XRP futures contracts. 

Described as a “regulated, capital-efficient way” for XRP exposure, the product launch is expected April 21, 2025.

We're excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify $XRP futures – bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets.

We anticipate the contract going live on April 21, 2025.

Stay tuned… pic.twitter.com/nKUPjjnMKW

— Coinbase Institutional 🛡️ (@CoinbaseInsto) April 3, 2025

Massive XRP Escrow Release Adds Market Pressure

Blockchain tracker Whale Alert detected significant XRP movement from Ripple escrow accounts. Approximately 1 billion XRP moved in three large transactions (500M, 200M, and 300M XRP).

What’s Going On With XRP? Court Oddity, Coinbase Futures Filing, Supply Dump Mix image 0 What’s Going On With XRP? Court Oddity, Coinbase Futures Filing, Supply Dump Mix image 1

Such large escrow releases typically raise market concerns about potential increases in circulating supply, placing bearish pressure on an already weak XRP price.

XRP Price Stays Under Pressure

Confirming this pressure, XRP traded significantly below its 20-day Exponential Moving Average (EMA), which presented a notable resistance level for the altcoin at the time of reporting. 

Related: Enterprise Focus: Ripple Integrates RLUSD Stablecoin into Core Payments

The latest escrow transfers could also add to the existing bearish technical outlook.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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