Tag: Ripple

Ripple Initiates Large XRP Transactions Post Legal Setback

boss

Ripple Labs, a leading cryptocurrency payment firm, has been seen moving millions of XRP tokens following the United States Securities and Exchange Commission’s (SEC) recent victory in a legal dispute. Ripple Moves Millions Of XRP As Price Holds Steady According to a recent report, Ripple Labs moved a whopping 120 million XRP tokens valued at about $60.8 million. The move has caused quite a stir within the XRP community and heightened sell-off anxiety in the face of increased market volatility. This comes after the payment firm experienced a legal setback…

Crypto enforcement, Ripple hack, FTX plans

This week saw a surge in global crypto enforcement actions, with the U.S., Germany and Hong Kong taking center stage. Ripple co-founder and chairman Chris Larsen suffered a massive hack. Meanwhile, FTX disclosed plans to fully repay its customers. Enforcement actions Multiple enforcement actions rocked the crypto scene this week, with the U.S. accounting for a substantial amount. The U.S. Department of Justice (DoJ) leveled charges against Belarusian national Aliaksandr Klimenka in a case involving Russian crypto exchange platform BTC-e. In a subsequent enforcement action, the DoJ also brought charges…

Ripple Locks Away 800 Million XRP In Escrow, Impact On Price?

Ripple Labs, a leading American-based payment firm has locked away a substantial amount of XRP tokens in its escrow wallet as part of its monthly unlock program to help bolster its ecosystem and XRP. Ripple Takes Back 800 Million XRP  A recent report from on-chain tracker Whale Alert revealed that Ripple took back about 800 million XRP tokens. This is no surprise, as the stated transaction has been a recurring outcome by the payment firm. The payment firm locked the aforementioned funds after its monthly 1 billion XRP release, which…

XRP Price Poised For Liftoff? Whale Holdings Soar Despite Ripple Hack

boss

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…

Ripple Co-founder Discloses Losses Of $113 Million

boss

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 job listing has a key detail: ‘drive ETF initiatives’

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…

Ripple CTO Explains How AMM Feature Will Enable XRP Holders To Earn Passive Income

boss

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. …

Ripple CTO Breaks Down XRP Distribution And Who Controlled 99% Of Supply At Genesis

boss

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…