Category: Cryptocurrency News

Ripple Labs has once again become the focus of much scrutiny and debate within the XRP community. Recent data points to a series of high-volume XRP transactions totaling 506 million tokens, valued at approximately $260 million, carried out over the span of 19 days. What makes these transactions especially noteworthy is not just their sheer volume but also the repetitive nature and targeted destinations. Ripple Transaction Breakdown Between the end of August and mid-September, a total of 15 significant XRP transactions were initiated by two Ripple-controlled addresses. These transfers were diligently logged by Whale Alert, a reputable platform that tracks large crypto transactions. The initiation of this flurry was a 31 million XRP transaction on August 30. Of significant note is the consistent pattern observed in many of these transfers. On numerous occasions, amounts exceeding 29 million tokens were transferred to the U.K.-based exchange, Bitstamp. This has ignited curiosity given Ripple’s acquisition of a stake in Bitstamp earlier this year. The specifics of this deal remain undisclosed, but the recurrent transfer of significant XRP sums to the exchange’s wallets post-acquisition does warrant attention. Related Reading: Ripple CTO Explains Company’s Stance On Debunking Outrageous XRP Price Predictions The address responsible for the majority of these transactions to Bitstamp, although initially unidentified by Whale Alert, is believed to be directly associated with Ripple Labs. This has led to intense speculation within the community. The direct involvement of Bitstamp in these transactions, combined with Ripple’s known stake in the exchange, raises questions about the nature and intent of these transfers. Another Ripple-associated address was also active, executing two prominent transfers on September 11 and September 18, totaling 175 million XRP in mid-September. Of these, 100 million XRP was moved to a wallet linked with the Canadian SideShift crypto exchange. In a previous instance, similar transactions were observed from the Binance platform to Ripple’s wallets, but no clarifications were provided by either party at the time. Market Implications The magnitude of these transactions has understandably caused ripples in the market, leading to speculations about potential systemic selloffs. The recent acquisition of financial services entity Fortress by Ripple has further added fuel to the fire. Questions are being raised about whether Ripple could potentially be leveraging its XRP holdings to facilitate such acquisitions. Related Reading: This Latest Move Suggests SEC Lawsuit Against Ripple Is Pushing The Crypto Firm Outside The US Bill Morgan, an advocate in the XRP circle, queried the relationship between the XRP transactions and the acquisition of Fortress, hinting at the potential impact of such a move on XRP’s price. While these significant XRP transfers have undoubtedly stirred the crypto community, it’s essential to highlight that Ripple Labs has, in the past, regularly transferred large XRP sums for various operational reasons. “I wouldn’t want to think that Ripple sold a lot of XRP to fund this acquisition and bailing out of Fortress customers putting downward price pressure on XRP. But that couldn’t be the cause of the price fall today as the whole crypto market fell,” he tweeted. Currently, neither Ripple Labs nor Bitstamp has provided any official insight into these recent transactions, leaving room for speculation. As the crypto ecosystem awaits an official response, maybe the next quarterly report by Ripple will deliver answers when the companies presents news stats on its quarterly XRP sales. At press time, XRP traded at $0.5139. Featured image from iStock, chart from TradingView.com

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One year after the Ethereum Merge, Grayscale has finally made the decision to abandon all the rights to proof-of-work Ethereum tokens.

With all these news coming up big whales and vitalik himself selling eth on exhanges. Were doomed submitted by /u/cucuu16 [link] [comments]

The possibilities of how high the XRP price can go has triggered heated debate among crypto community members over the past week. One particular forecast put the price of the cryptocurrency as high as $10,000 as Ripple advances in the payments sector. However, the validity of this prediction is still heavily debated, leading crypto analysts to weigh in on whether this price point is possible. Analyst Explains Why $10,000 Is Not Possible One analyst who has weighed in on the XRP price to $10,000 debate is Zach Rector. Following the circulation of predictions that the altcoin could rise to this level, Rector came forward to explain why he doesn’t believe that the XRP price can climb that high. Related Reading: Incoming Milestone Could Be Very Bullish For XRP Price, Here’s Why In the post that was made on X (formerly Twitter), Rector points toward a currency reset and debt restructuring as the reason behind his belief. According to him, both a Currency Reset and Debt Restructuring would have to take place before the altcoin can mount such a rally. Explaining further, Rector points toward both of these taking place before the cryptocurrency could even rise to a much lower price point of $50. So he believes that instead of putting forward such price predictions, the question to be asked is, “How high will XRP go before we have a RESET?” Another X user chimed in in response to Rector’s tweet to say it is possible for the XRP price to reach $10,000. However, they believe that this will only happen if the current high inflation rates are maintained. In a follow-up tweet, the user gives XRP a 5% chance of actually reaching $10,000. “$10,000 is possible but that would be assuming that we maintain this disastrous inflation rate, XRP becomes worldwide cross border payment currency of choice with no competition, and Tokenization takes place and at least 10-20% of one of the top 10 markets worldwide utilizes XRP,” the tweet reads. Why The Sudden Bullishness On XRP Price? Indicators and investors alike first turned bullish for the XRP price following Ripple’s victory over the United States Securities and Exchange Commission (SEC) in July. The price of the coin had risen over 60% in the days following the ruling as interest ballooned. Related Reading: Ripple CTO Explains Company’s Stance On Debunking Outrageous XRP Price Predictions The token’s rally has since slowed down since then, wiping the majority of its gains from the ruling. However, crypto analysts remain bullish. One analyst put the XRP price at $130, while another analyst sees it going as high as $500. XRP’s trading volumes, which have been nearly consistent above $1 billion, also show that investors are heavily involved in the coin. This sustained bullishness is further fueled by Ripple’s exploits in the payments sector, as well as working with various countries on their Central Bank Digital Currencies (CBDCs). XRP steadies above $0.51 | Source: XRPUSD on Tradingview.com Featured image from Yahoo Finance, chart from Tradingview.com

Inactive Bitcoin addresses have hit all-time highs across one-, three- and five-year time domains while BTC outflows from exchanges continue.

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The university said it intends to return the “entirety” of funds received from former cryptocurrency exchange FTX, which it claims were mainly for pandemic-related prevention and research.

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