Ripple Submits Fresh Motion, Disputes Allegations of XRP Price Suppression

Ripple has submitted a new motion in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), refuting claims that it suppresses the price of XRP through discounted over-the-counter (OTC) token sales. In the filing, Ripple stated that it no longer conducts OTC XRP sales transactions and instead sells XRP to customers through its On-Demand Liquidity (ODL) product, which does not offer discounted pricing. The company argued that its ODL sales have no impact on XRP’s price, which has consistently underperformed Bitcoin and the wider crypto market. Ripple also asserted that its financial statements are irrelevant to the court’s analysis, as it has the ability to pay potential SEC fines and penalties. This latest filing follows the SEC’s opposition to Ripple’s motion to seal and redact sensitive financial information. The outcome of the legal battle between Ripple and the SEC could have significant implications for the future of XRP.