In a Wednesday post, blockchain sleuth ZachXBT claimed that 213 million XRP tokens had been siphoned out of a large wallet on the XRP Leger blockchain. The funds were subsequently laundered through multiple exchanges including Binance, Kraken, and OKX. Source
In a recent turn of events, Ripple faced a significant security breach resulting in the loss of $112 million worth of XRP. Despite this setback, the cryptocurrency community has witnessed remarkable resilience from XRP whales, who have chosen to maintain their coin holdings. This unwavering support, coupled with Ripple’s swift response, has instilled confidence in the platform’s long-term viability. XRP Whales Display Unwavering Faith On-chain data provided by Santiment reveals that XRPLedger experienced a surge in whale transactions following the hack. A total of 217 transactions involving $1 million or…
XRP experienced a significant price drop early Wednesday amidst rumors of a potential exploit. The XRP price dropped more than 4% to $0.4853 but later recovered to $0.500 following a clarification from one of Ripple’s co-founders. Personal XRP Accounts Impacted, Not Ripple’s Initial reports suggested that Ripple had suffered a significant security breach, which was brought to light by decentralized finance (DeFi) investigator ZachXBT. These reports raised concerns about the overall security of the Ripple protocol. According to investigations, the breach resulted in the theft of more than 213 million…
Ripple (XRP) appears to be laying the groundwork for a future XRP exchange-traded fund (ETF). A recent job opening for a Senior Manager for Business Development at Ripple listed a key responsibility: “drive cryptocurrency-related ETF initiatives with internal trading teams and relevant partners.” This has led some in the crypto community to wonder whether the blockchain payments company is aligning its strategy with the evolving crypto landscape. This development surfaces as Ripple navigates through a high-profile legal tussle with the U.S. Securities and Exchange Commission (SEC), which many speculate could…
The decentralized open-source blockchain, XRP Ledger, is set to introduce more innovative solutions to XRP holders through its new Automated Market Maker (AMM) feature. The XRP community is currently buzzing with excitement as the Chief Technology Officer (CTO) of Ripple, David Schwartz, unveils how the AMM offers a unique avenue for earning passive income. XRPL AMM To Empower XRP Holders In a recent X (formerly Twitter) post, Schwartz discussed the ways an XRPL AMM could provide opportunities for XRP holders to make regular income through the AMM’s distinct trading mechanism. …
The initial distribution of cryptocurrencies such as XRP has always been a hot topic for investors in the crypto community. A lot of times, the discussions stem from the fact that investors believe there was some foul play at Genesis, where some people received an unfair share of the token supply. The latest coin to come under scrutiny is the XRP token, with community members asking questions about some events that took place at Genesis. As a result, Ripple CTO David Schwartz has taken it upon himself to clarify these…
The crypto community is currently embroiled in a debate over the right for Ripple to sell XRP tokens, sparked by a recent exchange between XRP advocate Bill Morgan and a crypto analyst known as “Darkhorse” on social media platform X. This discussion delves into the legal complexities and market implications of Ripple’s actions concerning XRP sales. There is nothing that prevents Ripple selling its XRP. Anyone can sell an asset it owns. The issue is whether in the US it needs to register its sales and offers of XRP with…
The Hong Kong Virtual Asset Consortium (HKVAC) unveiled changes to several of its cryptocurrency indexes. HKVAC’s rebalancing, set for Jan. 19, will affect its central index, the HKVAC top 5, as well as the top 1O Index and the Global Large Cryptocurrency Index. The HKVAC top 5 will exclude several prominent cryptocurrencies. For instance, Solana (SOL), which has recently been highlighted for its significant market strides, is set to replace Ripple’s XRP. Despite the tumultuous 2022 collapse of the FTX crypto exchange, which sent SOL prices plummeting by over 95%,…
The legal battle between the SEC and Ripple stems from the SEC’s allegation that Ripple engaged in unregistered securities sales, specifically through institutional sales of XRP. In a recent filing dated January 11, 2024, the US Securities and Exchange Commission (SEC) has requested specific documents from Ripple Labs Inc as part of the ongoing legal proceedings between the regulatory body and the blockchain payments company. SEC’s Document Requests and Interrogatory The two main categories of documents outlined in the SEC’s filing include Ripple’s financial statements and contracts governing institutional sales of…
XRP and Stellar (XLM) are two cryptocurrencies that have been constantly compared in terms of price growth and development. Both digital assets are dedicated to facilitating cross-border transactions. Given their considerable similarities, the Chief Technology Officer (CTO) of Ripple, David Schwartz has attempted to uncover the factors contributing to the persistent price correlations between the cryptocurrencies. Ripple CTO Explores XRP And XLM Price Trends Schwartz has recently taken to X (formerly Twitter) to share a chart illustrating a strong correlation in the price movements and patterns between XRP and XLM…