XRP (CRYPTO:XRP) is down 4.2% within the final 24 hours as of 1:23 p.m. ET on Friday, Oct. 30, after a $6.3 billion hack of Binance — the biggest crypto trade on the earth — rocks the business.
The S&P 500 and the Nasdaq Composite are down 1.8% and three.1%, respectively.
Missed Nvidia in 2009? This Uncommon Sign Is Flashing Once more. In 2009, a “Double Down” sign flashed for a little-known chipmaker referred to as Nvidia. For the primary time in years, that very same “Complete Conviction” sign is flashing for a corporation 1/a centesimal the scale of Nvidia. Continue »
How the document Binance hack hit XRP first
Hackers emptied Binance sizzling wallets — internet-connected wallets exchanges use to maintain funds obtainable for on a regular basis buying and selling — stealing 10 completely different cryptocurrencies on Thursday evening. The group drained $6.3 billion in whole, making it the biggest crypto theft ever.
Blockchain tracker Arkham mentioned the primary $300 million out the door was XRP.
Picture supply: Getty Pictures.
Why Ripple can freeze its RLUSD stablecoin however not XRP
Ripple, the corporate behind XRP, helped freeze about $200 million in RLUSD, its stablecoin. Nevertheless, the corporate is not in a position to do the identical for XRP, the native token of the XRP Ledger.
It is one other reminder in my thoughts that Ripple’s stablecoin is a extra engaging product for the banks and monetary establishments which can be important to Ripple’s growth efforts. These are shoppers who worth stability and safety above all else, and RLUSD gives that in a method that XRP doesn’t. It is why I believe buyers ought to steer clear of XRP.
Do you have to purchase inventory in XRP proper now?
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Johnny Rice has no place in any of the shares talked about. The Motley Idiot has positions in and recommends XRP. The Motley Idiot has a disclosure policy.
Why XRP Is Sinking Today was initially revealed by The Motley Idiot
