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Bittensor, Fetch .ai And Raboo: AI Meets Blockchain Technology In Burgeoning Crypto Market

Esra Zuhal
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Bittensor, Fetch .ai And Raboo: AI Meets Blockchain Technology In Burgeoning Crypto Market

In today’s increasingly dynamic crypto market, AI crypto projects garner increasingly more popularity as the defining megatrend of this bull run. Amidst some of the biggest coins in the AI crypto niche, such as Bittensor and Fetch.ai, a new contender has emerged as a potential moonshot opportunity.

Enter Raboo, a new AI meme coin poised to grow by more than 233% during its ongoing presale. Keep reading to learn how Raboo, Bittensor, and Fetch.ai will fare in the upcoming weeks.

Bittensor: The decentralized LM takes the AI crypto market by storm

Launched at the beginning of 2023, Bittensor is an open-source protocol that aims to create “a pure market for artificial intelligence.” Its decentralized, blockchain-based machine learning network is trained to the collaborative effort of the Bittensor community, with users being rewarded in TAO for the informational value offered to the collective.

This novel approach propelled Bittensor to become the second most valuable coin in the AI crypto niche. It grew by more than 713% over the last year. Its latest ATH of $730 in March, combined with the growing importance of AI in the crypto space, will lead to a new surge for Bittensor soon after the Bitcoin halving event. Experts indicate that Bittensor’s price will likely pass the $1000 mark by the end of this year.

Fetch.ai: A pioneer of the AI crypto space

Fetch.ai is a pioneering blockchain platform in the AI crypto space that aims to build a decentralized machine learning network that integrates a crypto economy. By democratizing access to AI technology, Fetch.ai enables anyone to use their autonomous AI to execute tasks and leverage its global data network. The core use cases of Fetch.ai revolve around core industries, such as DeFi, transportation, renewable energy, and other complex systems that require large-scale datasets.

Fetch.ai’s innovative work led to an impressive performance during this bull run, with its native token, $FET, growing by more than 365% over the last year. Experts expect Fetch.ai to maintain its bullish tendencies after the halving event, with $FET likely passing the $5 mark.

Raboo: Sitting at the intersection of AI crypto and meme coins

Raboo is a new AI meme coin that’s poised for massive growth during this bull run thanks to its unique position as both an AI crypto project and a meme coin. Boasting an impressive blend of SocialFi mechanics and cutting-edge AI technology, Raboo is building one of the most comprehensive ecosystems in the industry for its 4,000-person community filled with meme enthusiasts.

Raboo’s innovative mix of technology, community, and early performance has resulted in close to $1 million raised in the first stages of its ongoing presale. Analysts predict that Raboo will maintain its strong momentum even after it hits public exchanges.

Conclusion

With the recent Hong Kong ETF approvals and the Bitcoin halving being only days away, AI crypto projects like Bittensor and Fetch.ai should be a part of any astute investor’s portfolio. But, for those gem hunters who are looking to maximize their returns and score a potential 100x, Raboo’s crypto presale remains the superior choice.

You can participate in the Raboo presale here.

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Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.

Bitcoin MVRV Ratio Crashes Below 90-Day Average, Signaling Imminent 67% Price Surge

Sam Wisdom Raphael
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Bitcoin MVRV Ratio Crashes Below 90-Day Average, Signaling Imminent 67% Price Surge

The Bitcoin (BTC) MVRV ratio has dropped below its 90-day average, signaling an upcoming price rally, with the possibility of an impressive 67% increase. 

Market Veteran Ali Martinez called attention to this bullish turn of events in a recent post on X. Notably, market data from Glassnode confirms that the 90-day average of the Bitcoin MVRV ratio has continued to increase.

Interestingly, while the 90-day average has seen a steady uptick, the actual MVRV ratio has recorded occasional declines and upswings, as it mirrors Bitcoin’s market performance in real-time. The MVRV (market value to realized value) ratio compares Bitcoin’s market value to its realized value.

For context, Bitcoin’s market value represents its current price on exchanges, while realized value reflects the aggregate cost basis of Bitcoin holders, based on the price at which BTC tokens were last transacted on-chain.

If the MVRV ratio gradually drops, it signals bearish sentiment, indicating that the market value of Bitcoin is falling relative to its realized value. The metric has been dropping since BTC collapsed from the $73K ATH on March 13, data from Glassnode shows.

BTC MVRV Ratio Falls Below 90-Day Average

However, amid this drop, the ratio has now fallen below the 90-day average, an occurrence which Ali has identified as a bullish signal. Citing market data, Ali revealed that this occurrence has played out four times since January 2023, and each time, it preceded a market upswing, with an average surge rate of 67%.

The market analyst believes this upswing would materialize again this time around, especially considering the latest Bitcoin halving. The 67% average uptrend rate would put Bitcoin’s price at $110,409, representing a new all-time high. However, it remains to be seen if the premier crypto can attain this feat.

Bitcoin Support and Resistance Levels

With Bitcoin struggling to solidify its position above $66,000, Ali emphasized in a subsequent analyst that it is looking to establish a robust support at this price level. As Bitcoin currently trades for $66,176, the analyst stressed that it could leverage the $66,048 price as support.

Notably, this price point represents a demand wall at which 1.54 million addresses amassed 747,000 tokens. According to Ali, if Bitcoin successfully establishes a support at this price level, it will set its eyes at conquering the sell wall between $69,900 and $71,200, where over 1 million addresses hold 444,410 BTC.

However, despite the recent upsurge, the bulls need to hold firm against any drops to the April 19 lows below $60,000. IntoTheBlock revealed today that BTC boasts an important demand wall at the $64,800 mark, with over 1.66 million addresses stationed at the crucial demand zone.

Amid the latest rebound, Bitcoin has now soared above the 50-day EMA at $64,640, as short-term momentum flips bullish. The Binary CDD and the Exchange Reserve metrics further confirm the bullish sentiments, with the Binary CDD indicating low long-term holders’ movement and the Exchange Reserve confirming that investors have continued to take their BTC tokens off exchanges.

Bitcoin Leads as Crypto Products See Second Week of Outflows, Totaling $206M

Mark Brennan
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Bitcoin Leads as Crypto Products See Second Week of Outflows, Totaling $206M

Crypto investment products saw $206 million in outflows, as Bitcoin leads the losses, with up to $192 million in weekly outflows.

Last week, digital asset investment products witnessed a second week of outflows after investors withdrew $206 million. The trading volumes of these exchange-traded products (ETPs) also diminished slightly, cooling to $18 billion.

According to a report by asset manager CoinShares, Bitcoin saw the most significant loss relative to other cryptocurrencies, with outflows reaching $192 million. Despite Bitcoin experienced these notable outflows, there was minimal interest in short-selling, with short-bitcoin funds also seeing outflows of $0.3 million. In contrast, multi-asset funds saw positive movement, receiving $9 million in inflows. 

Ethereum recorded the second-largest outflow last week, amounting to $34.2 million. This marked the sixth consecutive week where Ethereum has seen a decline in its product holdings. Also, while Bitcoin witnessed $368 million in positive monthly flows, Ethereum’s monthly flows remained negative, with $85.4 million in outflows.

Regional and Asset-Specific Trends

Regionally, the sentiment has been predominantly negative in the United States, where US ETFs recorded outflows of US$244 million. Most of these outflows came from ETFs. While the newly launched ETFs managed to attract some capital, these came at lower levels than in previous weeks. 

In the past week, SoSoValue reported that Spot Bitcoin ETFs saw a net outflow of $165 million, aligning with a reduction in buying activity during the U.S. tax season. Despite this downturn, trading volumes for nine ETFs hit nearly $2.7 billion on Wednesday. 

On the other hand, Canada and Switzerland reported inflows of US$30 million and US$8 million, respectively. Germany saw minor outflows, amounting to US$8 million.

Litecoin and Chainlink also attracted investor interest, with inflows of $3.2 million and $1.7 million, respectively. Meanwhile, blockchain equities faced their 11th week of consecutive outflows, totaling $9 million, as concerns about the impact of the halving on mining companies persist.

Shiba Inu To Build New L3 Privacy Blockchain

Abdulkarim Abdulwahab
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Shiba Inu To Build New L3 Privacy Blockchain

The Shiba Inu team has raised $12 million through the yet-to-be-released TREAT token to facilitate an upcoming layer-3 (L3) privacy blockchain.

In a recent post on X, the Shiba Inu ecosystem content marketer Lucie spotlighted the development, noting that the funds came from an investment round.

Shiba Inu’s Latest Fundraising

According to the report, the Shiba Inu development team garnered $12 million by selling TREAT to venture capital investors outside the United States. 

These investors comprise big names such as Mechanism Capital, Polygon Ventures, Shima Capital, Big Brain Holdings, Morningstar Ventures, Animoca Brands, DWF Ventures, Woodstock Fund, Comma 3 Ventures, and Stake Capital.

Shiba Inu’s ecosystem leader, Shytoshi Kusama, confirmed the development in a statement. He noted that the fundraising encompasses pre-seed and seed rounds. Furthermore, Kusama disclosed that Shiba Inu initiated the fundraising process several months ago and finalized it in early April. 

Meanwhile, he refrained from disclosing specific figures regarding the valuation. However, an anonymous source revealed that the fundraising was structured in three tranches. The valuations for each tranche were reportedly $75 million, $100 million, and $200 million.

Shiba Inu Upcoming L3 Privacy Blockchain

Notably, the fundraising is to expedite efforts to launch Shiba Inu’s privacy-based layer-3 blockchain, which is under development on Shibarium.

Remarkably, Kusama opted not to disclose the name of the upcoming blockchain. The move is to prevent potential scam efforts similar to those who have created fake TREAT tokens ahead of its official launch.

Notably, the Shiba Inu team is developing the new blockchain by leveraging fully homomorphic encryption technology from cryptography firm Zama. Recall that Shiba Inu and Zama allied in February to enhance privacy services for user data management.

According to Kusama, the new blockchain will go live on a testnet in the third quarter of 2024, followed by the mainnet after rigorous testing.

Notably, the TREAT token will be the utility and governance asset for the upcoming privacy-focused blockchain. Meanwhile, Shiba Inu’s leader has revealed that TREAT will be the last risk asset introduced by the Shiba Inu ecosystem.

He reiterated that efforts are in place to unveil a stablecoin dubbed “SHI” before this year ends. Existing Shiba Inu ecosystem tokens include SHIB, BONE, and Doge Killer (LEASH).

Here’s Why Today is Important in the SEC v. Ripple Case

Lele Jima
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Here’s Why Today is Important in the SEC v. Ripple Case

The multi-year legal tussle between the U.S. SEC and Ripple is approaching a final resolution as the remedies stage of the lawsuit edges close to an end.

According to the court’s scheduling order, Ripple will file its reply to the SEC’s opening remedies-related brief today, April 22, 2024.

Procedures of Ripple’s Upcoming Opposition Brief

While Ripple is expected to submit its remedies-related opposition brief in the U.S. District Court for the Southern District of New York (SDNY) today, the filing will remain sealed until April 24, when a redacted version of the motion will be filed in the public docket.

After Ripple files its reply brief today, the parties will meet and confer tomorrow, April 23, to deliberate on necessary redactions before the filing goes public on April 24.

SEC Demands Stirs Reactions

The Crypto Basic reported last month that the SEC filed its opening remedies brief. Per the filing, the SEC requested that Ripple pay nearly $2 billion in fines and penalties for violating securities laws via its XRP institutional sales.

In addition to monetary demands, the SEC pleaded that the court impose sanctions to prevent Ripple from further violating securities laws. The SEC’s demand of nearly $2 billion came as a shock to several crypto enthusiasts, including Ripple CEO Brad Garlinghouse.

Garlinghouse noted that such a demand in a case devoid of fraud or recklessness allegations is unprecedented.

What to Expect in Ripple’s Brief

Interestingly, the Ripple CEO provided a hint of what the crypto community should expect in the opposition brief, noting that the company would expose the regulatory agency.

He added a gif to the tweet, which describes the SEC as an unserious agency for making such a hefty demand.

It is unclear how Ripple plans to oppose the SEC. However, speculations have emerged that Ripple could leverage the ruling issued by the Second Circuit in the SEC v. Govil case, which held that the SEC is entitled to disgorgement from the seller only when buyers suffer financial losses.

Should Ripple leverage the Govil ruling, the company could ask Judge Analisa Torres to impose disgorgement based on the Second Circuit decision.

If the judge agrees, she could mandate Ripple to pay disgorgement based on the number of institutional investors who incurred losses by purchasing XRP at prices above the current rate of $0.5351. However, legal experts have noted that this argument might not stand, as the SEC does not hold that Ripple’s sales resulted in losses.

Following the filing of Ripple’s opposition brief, the SEC would get a chance to file a reply by May 6. Afterward, Judge Torres would issue its final judgment, bringing the lawsuit to its final resolution at the district court level.

If any of the parties are unsatisfied with the final or summary judgment decisions, the lawsuit could proceed to the Second Circuit.

Unknown Shiba Inu Wallet Reactivated After 528 Days to Burn 372M+ SHIB

Lele Jima
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Unknown Shiba Inu Wallet Reactivated After 528 Days to Burn 372M+ SHIB

Shiba Inu heats up as an unknown address that had been dormant for 528 days came out of dormancy to burn 372 million SHIB tokens.

Shiba Inu community members are paving the way for a potential rally in the price of SHIB as they incinerate substantial amounts in an attempt to bolster the ongoing burn campaign.

1.4 Years Dormant Address Awakened to Burn 372M SHIB

Per an update provided by Shibburn yesterday, the community burned 392,376,654 (392.37 million) SHIB tokens in 18 transactions. With SHIB trading at $0.00002711, the value of the tokens burned was worth $10,637.

It is interesting to note that a particular burn transaction stood out of the 18 transactions recorded on April 21. Notably, the anonymous user behind the transaction sent 372,663,448 (372.66 million) to Shiba Inu’s official burn wallet in a single transaction.

On-chain data from Etherscan shows that the wallet had been dormant for 528 days. The first transaction recorded on the address after this period was the incineration of 372.66 Shiba Inu tokens.

Notably, The Crypto Basic reported a similar incident earlier this month, noting that an unknown wallet came out of 141 days of dormancy to burn SHIB.

At press time, the address involved in the latest development had a balance of 0 SHIB, suggesting that it burned all its Shiba Inu holdings. However, the wallet still holds other crypto assets worth $7,687 at the time of writing.

Shiba Inu Burn Rate Dips Over 99%

In the meantime, the total burns recorded in the past 24 hours for Shiba Inu is currently around 3,179,628 (3.17 million) SHIB.

Following the massive decline in SHIB’s daily burns, the token’s burn rate is down 99.20% over the past 24 hours.

SHIB Spikes 15.7% Amid Increased Burns

Shiba Inu community members have shown commitment to reducing SHIB’s circulating supply via burns. In Q1 2024, the community incinerated 26,336,410,083 (26.33 billion) SHIB tokens.

With 8 days left before April comes to a close, the community has already incinerated substantial amounts of Shiba Inu tokens. Over 410.72 trillion SHIB have been destroyed since the token’s inception in 2021. However, the canine-themed token still has a hefty circulating supply of 589 trillion tokens.

The increase in burns has coincided with a market recovery. At last check, Shiba Inu’s price is up 15.7% on the weekly charts. This uptick in price follows a period of sustained turbulence.

XRPL Validator Spotlights UI for Bridging XRP to EVM Sidechain on devnet

Sam Wisdom Raphael
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XRPL Validator Spotlights UI for Bridging XRP to EVM Sidechain on devnet

Prominent XRP Ledger (XRPL) validator Vet recently spotlighted a convenient UI for seamlessly bridging XRP to the EVM sidechain on the devnet.

The recent disclosure demonstrates the behind-the-scenes progress made toward launching the XRPL bridge and the EVM sidechain to the public. Notably, these products are expected to help bolster interoperability for the XRPL ecosystem.

In a recent post on X, Vet confirmed his plans to bridge XRP tokens to the EVM sidechain on the devnet, lauding the impressive convenience of the user interface. According to him, he is looking to deploy a smart contract on the sidechain when he successfully bridges the XRP to the chain.

For context, when it officially launches, the EVM sidechain will allow developers to build and launch Ethereum-based smart contracts for the XRPL. This functionality is expected to help bolster the XRPL DeFi ecosystem, which is gradually becoming more robust with the launch of the AMM functionality and the upcoming launch of the native lending protocol.

Vet noted that the launch of the test smart contract would mark his first attempt at deploying a contract on the EVM sidechain. However, these functionalities are strictly on the devnet, and are not currently available for public use. Despite this, the glimpse into the functionality has generated enthusiasm among proponents.

XRPL EVM Sidechain Bridge UI
XRPL EVM Sidechain Bridge UI

Media personality and industry commentator Zach Rector recently reacted to the sneak peek, echoing the sentiments across the broader XRP community. “So it begins,” Zach Rector remarked, touting the potential expansion of the XRPL DeFi ecosystem.

The XRPL EVM Sidechain

The XRPL EVM sidechain, a product of the collaboration between Ripple and Peersyst Technology, seeks to establish a vital link between the XRP Ledger and the vibrant ecosystem of decentralized applications (dApps) on Ethereum.

Developed for speed and security, the sidechain offers impressive capabilities, supporting up to 1,000 transactions per second with a swift block finalization time of only 5 seconds. It leverages CometBFT, a variant of Tendermint.

The EVM sidechain is presently unavailable on the XRPL mainnet. However, it is connected to the XRPL devnet for developmental purposes. Consequently, developers and validators within the XRPL community can explore and test its functionalities before its official public release.

The sidechain has undergone a thorough audit conducted by Bishop Fox, affirming its readiness for deployment pending the attainment of necessary consensus. Noteworthy is Ripple’s recent introduction of the XLS-38 amendment, aimed at integrating the XChainBridge onto the XRPL.

The bridge will facilitate the connection between the XRPL and the EVM sidechain, both of which operate independently. For proper context, deploying the sidechain will not automatically make the XRPL EVM-compatible, hence the necessity for the bridge. As of press time, XLS-38 has not attained validator consensus.

Shiba Inu Lead Finalizes Mysterious Deal

Abdulkarim Abdulwahab
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0
Shiba Inu Lead Finalizes Mysterious Deal

The Shiba Inu ecosystem lead Shytoshi Kusama has closed a secretive deal of pivotal significance for the SHIB Army.

Kusama subtly hinted at this significant development during his latest interaction with the community via the Shibarium Telegram group.

Shiba Inu Lead Discloses New Deal

During the weekend, Kusama revealed on Telegram that he was engaging with an individual of considerable significance regarding Shiba Inu affairs. 

Accordingly, he urged group members to warmly welcome this individual with the community’s signature “woof” excitement. “I’m sitting with someone VERY important. Can we give a warm woof and welcome,” Kusama appealed.

Shiba Inu leading seeking community request
Shiba Inu lead seeking community request.

As anticipated, the Shiba Inu Army enthusiastically responded to Kusama’s request, extending a warm welcome to his guest. Following the spirited engagement session, the Shiba Inu ecosystem expressed gratitude to the community members and confirmed that the deal had been finalized. 

He encouraged everyone to stay tuned for further updates. This remark from Kusama sparked another round of bullish engagements from the SHIB Army. 

A Lack of Details

Amid the excitement, curiosity regarding the nature of the deal enveloped the community. Community member Roy3 humorously pointed out how many individuals were making celebratory remarks without full knowledge of what they were celebrating.

Meanwhile, community admin Regnar chimed in, suggesting that when Shytoshi indicates something big is on the horizon, it often is significant. 

Shiba Inu admin response
Shiba Inu admin response

However, despite pressing curiosities from the community members, Kusama did not provide specifics of the deal. Nonetheless, the ecosystem lead used the medium to hint at the coming of ShibaSwap 1.75 ahead of the much-anticipated ShibaSwap 2.0.

Shiba Inu Partnerships

Significantly, the Shiba Inu ecosystem team has recently embarked on several partnerships following initial teasers. Among the latest is a collaboration with the Content Delivery and Security Association (CDSA), an organization boasting tech behemoths Netflix, Apple, and Amazon as members.

In this partnership, CDSA members will leverage Shiba Inu’s blockchain, Shibarium, to tackle plagiarism and deep fakes arising from advancements in artificial intelligence.

Other existing partnerships encompass collaborations with D3 Global to offer enthusiasts SHIB identity, and with Paris-based cryptography firm Zama.

XRP Price Rallies 25% on Bitcoin Halving: But, What Next?

Mark Brennan
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XRP Price Rallies 25% on Bitcoin Halving: But, What Next?

XRP price rose from $0.42 to $0.53 between April 13 and April 20. As XRP faces a looming sell-wall at the $0.55 level, do the bulls have enough in the tank to drive the rally further in the days ahead?

XRP Trading Volume in Decline Despite 8% Price Rally

XRP price opened trading on April 20 at $0.52, the highest for the week, marking a 25% recovery after the global market crash on April 11 had sent prices spiraling to an 11-month low of $0.42.

This remarkable XRP price recovery over the past week came amid bullish tailwinds from investors seeking to front-run the potential upside from the just-concluded Bitcoin (BTC) halving event.

Ripple (XRP) Price Action April 12 - April 20 | Source: TradingView
XRP Price Action April 12 – April 20

But interestingly, crucial market data trends suggest the upward trend has not been accompanied by an equal increase in market liquidity, contributing to fears of an imminent bearish reversal.

The Santiment chart below tracks the volume of XRP coins traded daily between April 12 and April 20, expressed in USD terms.

Ripple (XRP) Trading Volume vs Price  | Source: Santiment
Ripple (XRP) Trading Volume vs Price | Santiment

As illustrated above, XRP investors traded $1.48 billion on April 12, 2024. But since then, the trading volume has been in decline, with just $698.4 million worth of XRP traded on April 19.

In clear terms, this implies that despite XRP prices surging 25%, the level of trading activity remains in decline, dropping by a whopping $782 million over the past week.

Typically, falling trade volume during a period of rising prices suggests a lack of conviction or enthusiasm among market participants. As things stand, XRP traders appear hesitant to commit to large-volume positions.

If it persists, this rare market signal could eventually lead to a bearish reversal as the current bullish price action lacks sufficient momentum to break above key resistance levels.

XRP Price Forecast: Imminent Reversal Towards $0.50

Despite the 25% XRP price surge, XRP trading volume has declined by $780 million within the weekly timeframe. Drawing insights from this critical market signal, XRP price looks set for an imminent reversal towards the $0.50 territory.

The Bollinger band indicator further supports this stance. It shows that after reclaiming $0.52, the bulls now face a looming sell-wall at the $0.55 territory.

With the current market liquidity significantly lower than the volumes traded when XRP last fell below $0.55, prices could struggle to maintain upward momentum and reclaim that territory.  

Ripple (XRP) Price Forecast | April 2024 | Source: TradingView
Ripple (XRP) Price Forecast

However, in the event of a major downtrend, the lower-limit Bollinger band indicates a key support level at $0.45. The presence of a substantial buy-wall at this level suggests that bears may encounter strong hindrances to further downside movement.

XRP Whales Move 100,000,000 XRP, Stirring Ripple Speculation

Mark Brennan
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XRP Whales Move 100,000,000 XRP, Stirring Ripple Speculation

A massive transfer of 100 million XRP has sparked speculation about the involvement of Ripple, amid market volatility and CTO’s transparency assurance.

The cryptocurrency community has been alerted to a substantial transfer of 100,000,000 XRP, equivalent to approximately $53,477,708. On-chain data confirms that the massive fund flow occurred today at 04:06 AM (UTC).

Notably, both the sending and recipient address are labeled unknown, stirring speculation regarding their identities. While concrete confirmation is lacking, data suggests a potential link to Ripple, the San Francisco-based blockchain payments firm.

Transaction Details 

On-chain investigation on both addresses reveal interesting details. Being a new address, the 100 million XRP movement marked the receiver’s second transaction, the first being a test transfer from the same sender. Conversely, the sender, although also new, demonstrates relatively more activity than the receiver.

The sender’s address history reveals only 6 past transactions, receiving 12 XRP from Ripple at one point, with this transaction implying an affiliation with the company. However, without official commentary from Ripple, this remains unconfirmed.

Recent developments show that XRP has witnessed significant whale activity besides the recent fund flow. In addition to involvements from retail investors and other institutions, Ripple has also moved large sums of XRP tokens for sales and to cater to its payment clients.

Last month, Ripple moved 130 million XRP amid price struggles. Also, as reported by Whale Alert, an unidentified whale transferred 28.8 million XRP to the Bitstamp exchange yesterday. This transaction also fueled speculation, dividing opinions on whether this could be a mere selloff or part of Ripple’s strategic liquidity maneuvers.

Ripple XRP Sales

This transaction unfolds against ongoing discussions surrounding Ripple’s XRP sales. David Schwartz, the Chief Technology Officer at Ripple, recently addressed concerns about the company’s transparency regarding XRP sales. 

Amid discussions about the state of the XRP Ledger and accusations, Schwartz clarified that if Ripple intended to hide its XRP transactions, it could simply conduct these sales through less transparent exchanges rather than on the ledger itself. 

Schwartz pointed out that Ripple has always maintained a high level of openness about its dealings with XRP, with on-chain data frequently tracking the movement of funds. He emphasized that Ripple’s historical practice of reporting XRP sales quarterly has been a testament to the company’s commitment to transparency.

In the last 24 hours, XRP has shown notable price movement. After opening at $0.5323, it experienced daily volatility, marking a series of lows and highs on the daily chart. However, the bulls were in control at press time, with prices spiking to $0.541. This represents an approximate 1.3% increase from the opening price.

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