- XRP hit a new all-time high of $3.65 before a 75M token dump on Upbit triggered a sharp 15% crash and $90M in liquidations.
- Ripple CEO Brad Garlinghouse warned investors about a surge in scams impersonating Ripple’s team and pushing fake offers.
- XRPL wallets surpassed 7.2 million, marking strong growth since 2024, though the rate of new wallet creation is slowing slightly.
XRP has been the talk of the town lately, and for good reason. It smashed through its 2018 peak and printed a fresh all-time high at roughly $3.65 just days ago. For a brief moment, the token’s market cap hit around $207 billion — enough to outshine giants like Uber, Boeing, and even Siemens. Pretty wild, right? But the celebration didn’t last long.
In what looked like a coordinated whale move on Upbit (yep, the Korean exchange), over 75 million XRP got dumped into the market. No buy walls, no cushioning — just straight sell pressure. That single move wiped around 15% off XRP’s price within hours. Longs got absolutely wrecked, with over $90 million in positions liquidated in the blink of an eye. After the dust settled, XRP clawed its way back to around $3.16, which still puts it down about 5% on the day.
Ripple CEO Sounds the Alarm
Brad Garlinghouse, Ripple’s CEO, didn’t waste the chance to call out scammers. He warned the XRP community about a spike in fake accounts, especially on YouTube, impersonating Ripple’s official team with bogus offers.
“Look, anytime there’s a rally, these scams explode,” he said (more or less). His message? If someone’s offering you a random airdrop or some shady promotion out of nowhere, it’s almost definitely a scam. The real team rarely reaches out directly — and if it sounds too good to be true… well, it’s probably not true.
XRPL Wallets Hit 7.2 Million
On a brighter note, the XRP Ledger (XRPL) just hit a new milestone with 7.2 million wallets now live on the network. That’s the fastest user growth Ripple’s seen since late 2024. Data from CryptoQuant shows steady wallet creation over the past year, hinting at rising interest and adoption.
That said, there’s a twist. While new wallets are still being created, the pace is slowing a bit. It’s not a red flag just yet, but it might hint at cooling momentum if the trend continues. Still, XRPL’s growth curve shows this network isn’t going anywhere anytime soon.
