💥How a $112 Million XRP Hack Shook the Crypto World 💥

On January 30, 2024, a shocking news broke out in the crypto world: Chris Larsen, the co-founder and executive chairman of Ripple, the company behind the XRP cryptocurrency, reported that his personal XRP accounts were hacked and $112 million worth of XRP were stolen by unknown attackers.

Larsen, who is one of the richest people in crypto, said that he was able to freeze the affected addresses and notify the exchanges and law enforcement. He also clarified that the hack did not affect Ripple or the XRP Ledger, the decentralized network that powers XRP transactions.
However, the hack caused a panic among XRP investors, who feared that the network was breached or that the hackers would dump the stolen XRP on the market. The price of XRP dropped by 5% on January 31, 2024, as the news spread.
The hack also added more pressure on Ripple, which is still facing a lawsuit from the U.S. Securities and Exchange Commission (SEC), which accuses the company of selling unregistered securities in the form of XRP. The case is expected to go to trial in February 2024.

Ripple is also working on filing a spot XRP exchange-traded fund (ETF), which would allow investors to buy and sell XRP on a regulated platform. The company is hiring executives to drive the ETF initiatives and meet the requirements of the SEC.
XRP is currently trading at around $0.53, with a market capitalization of $27.4 billion. Some analysts and experts have predicted that XRP could bounce back to $1 or even higher in the future, depending on the outcome of the lawsuit and the demand for the token.
The hack of Chris Larsen’s personal XRP accounts is one of the biggest and most shocking events in the crypto world. It shows the risks and challenges that crypto investors and companies face in this volatile and unregulated industry. It also shows the resilience and potential of XRP, which is still one of the most popular and widely used cryptocurrencies in the world.
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According to 9news

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📈💰 XRP Price: Analyst Bullish On XRP To Hit $1 In April As Price Nears $0.6

📉 Amid the recent price dip witnessed by altcoins due to market corrections and BTC’s slip to $62K, a prominent analyst’s anticipation of XRP’s imminent run to $1 echoed a sense of frenzy across the crypto horizon today, March 20.

🔮 Dark Defender, a well-known crypto market analyst, recently took to a post on X, showcasing retained bullishness on the Ripple-backed token’s capability to scale $1 in April, giving rise to a colossal torrent of speculations.

💡 According to the analyst’s post on X, a critical examination of XRP’s market dynamics showcased Dark Defender’s previous predictions fell in line with the upcoming potential $1 prediction.

💰 Notably, XRP successfully achieved the $0.6462 target on the specified date, whereas it scaled $0.75, nipping at the heels of the second target. This anchored the analyst’s prediction’s foothold, sparking investors’ enthusiasm orbiting the token’s potential to showcase a phenomenally rising price action ahead.

📈 Meanwhile, based on XRP’s new high of $0.75, the analyst ruled out the next Fibonacci levels as $0.9772-$1.5048 and $2.3172 in the short term.

📊 As of writing, the XRP token’s price jotted a 1.15% upswing over the past 24 hours and is currently trading at $0.5976. Following its recent dip below the crucial $0.6 level, a regained upward momentum promptly nabbed significant attention toward the sixth-largest cryptocurrency by global market cap, falling in line with the analyst’s predictions.

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https://www.tradingview.com/chart/XRPUSDT/GZs50bd7-Ripple-s-Resilience-Overcoming-Legal-Battles/GZs50bd7
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$XRP Call it round bottom or the smiley face - love them both. I believe #Ripple is well overdue for a pump in this market
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A 50% drop is expected

💵 NewsBTC Analytics: $XRP Price Prediction

In the past few days, XRP price climbed higher from the $0.530 zone. There was a move above the $0.580 and $0.600 resistance levels. Yesterday, it pumped over 15%, cleared the $0.650 resistance, and outperformed both Ethereum and Bitcoin.

A high was formed at $0.7442 and the price is now consolidating gains. There was a minor decline below the $0.720 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.530 swing low to the $0.7442 high.

Ripple’s token price is now trading above $0.660 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.660 on the 4-hour chart of the XRP/USD pair.

On the upside, immediate resistance is near the $0.720 zone. The first key resistance is near $0.7440, above which the price could rise toward the $0.7850 resistance. A close above the $0.7850 resistance zone could spark a strong increase.

The next key resistance is near $0.80. If the bulls remain in action above the $0.80 resistance level, there could be a rally toward the $0.850 resistance. Any more gains might send the price toward the $0.880 resistance.

If XRP fails to clear the $0.720 resistance zone, it could start another decline. Initial support on the downside is near the $0.660 zone and the trend line.

The next major support is at $0.6350 or the 50% Fib retracement level of the upward move from the $0.530 swing low to the $0.7442 high. If there is a downside break and a close below the $0.6350 level, the price might accelerate lower. In the stated case, the price could retest the $0.600 support zone.

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Ripple regains the upper hand in its lawsuit with the SEC, bringing the infamous "Hinman documents" back into the spotlight!

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🐋 XRP Whales Buy Over $21 Million in XRP – What’s Happening? 🚀

🐋 In a flurry of activity, Whale Alert reports a surge in XRP transactions: 18 million XRP ($11.27 million) transferred from Upbit to an unknown wallet, followed by another 16 million XRP ($10.03 million) transfer. 📈

📊 These transactions total over $21 million, suggesting bullish sentiment among large-scale investors towards Ripple’s native cryptocurrency. 🚀

💼 Upbit, a major South Korean exchange, is known for its security and wide coin support. The movement of large sums to unknown wallets hints at significant accumulation by crypto whales. 🐳

💰 Despite the acquisitions, XRP's price consolidates at $0.6267, with a 1.13% decrease in the last 24 hours and a 24.18% drop in trading volume. 📉

🔍 The actions of whales are closely watched, as they can precede market movements. Speculation surrounds the motives behind these acquisitions, which could signal anticipation of a market rally or other developments within Ripple. 🤔

📈 The impact of these transactions on XRP's performance remains to be seen, but they underscore the dynamic nature of the crypto market and the keen interest in XRP's future movements. 🌐

#RippleUpdate #WhaleWatchers #HotTrends

* Whale Transactions Spark Speculation in the Crypto World Featuring $XRP
XRP, one of the top five cryptocurrencies by market value, sparked considerable curiosity in the crypto world on Thursday by recording notable whale transactions. Moreover, the whale transactions occurred amidst today’s price increase of the token, stirring up a whirlwind of speculation across the broader crypto market.
XRP’s Whale Activity
Parallel to the price increase witnessed by the Ripple-backed cryptocurrency, a leading crypto analyst shared his views on the token’s market performance. In addition, Whale Alert, a platform providing Blockchain data, disclosed two significant XRP whale transactions today. According to the data, an unknown wallet transferred 42.8 million XRP to two different CEXs, Bitstamp and Bitso. The anonymous wallet moved 24.6 million XRP to Bitstamp and, in another transaction, transferred 18.2 million XRP to Bitso.

The amount of tokens transferred to Bitstamp was valued at 15.28 million dollars, while the transfer to Bitso was estimated at 11.30 million dollars. The XRP transfers to Bitstamp and Bitso have come to the fore as recurring events since the CEXs announced partnership plans with Ripple Labs, the company behind XRP. The aforementioned whale transactions occurred following the token’s price increase over the last 24 hours.

Analyst Comments on XRP
Simultaneously, these transactions created a significant wave of speculation among crypto market enthusiasts, with the token once again surpassing the 0.62 dollar mark. At the time of writing, the XRP price recorded a marginal increase of 2.87% and is currently trading at 0.6245 dollars. Despite the slight increase, the token’s recent trading at a low of 0.5989 dollars suggests that its price trajectory is gaining significant momentum in the wider market.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. #RippleUpdate $XRP

The US Securities and Exchange Commission has increased pressure on Ripple in court

The US Securities and Exchange Commission (SEC) has filed a motion to force Ripple to file financial statements for 2022-2023 and provide contracts governing institutional sales.

According to the documents, institutional sales covered the same types of transactions that Judge Torres found to be unregistered offers and sales of securities.

An SEC representative submitted a statement to Southern District of New York Magistrate Judge Sarah Netburn. In it, the regulator asks that Ripple be required to answer a single question about the amount of income from institutional sales of XRP received under contracts before the filing of the lawsuit in 2020.

Another SEC demand is that the court impose remedies such as injunctions and civil penalties against Ripple. The Securities and Exchange Commission asked the court to make a decision that will help Judge Torres determine whether Ripple was guilty in the first case.

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🚀 Breaking News in the Crypto World! 🚀
🔍 According to Foresight News, former US federal prosecutor James K. Filan reveals a significant development in the Ripple vs SEC lawsuit.
📅 New Deadlines Requested by SEC:
Opening defense brief extended to March 22, 2024.
Ripple's opposition brief due by April 22, 2024.
SEC's reply brief deadline pushed to May 6, 2024.
🌐 Stay Tuned for Updates! The US Securities and Exchange Commission (SEC) seeks more time for remedial measures in this high-stakes legal battle.
💡 Pro Trader Hub Insights: Get ready for potential market impacts as the crypto community closely monitors these extended deadlines. How will Ripple (XRP) respond? Stay informed on Binance Square!
🚨 Bookmark Pro Trader Hub for Real-time Updates! Your go-to source for breaking news, analysis, and expert opinions in the crypto universe. Let's navigate the crypto waves together! 🌊💹

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