XRP Tumbles After $112M Ripple Exploit: Is There Hope? The
price of XRP took a hit, dropping 2.35% in just an hour, as news broke of a
$112.5 million exploit on the Ripple network. On-chain detective ZachXBT was quick to sound the alarm.
Zach's investigation revealed that a whopping
213 million XRP had been swiped, with the stolen tokens making their way across various exchanges like a digital shell game.
While this may be the first major heist of 2024, Ripple's chairman Chris Larsen stepped up to clarify that it wasn't the company's funds but his own personal stash that got nabbed.
Thanks to Larsen's swift response and the assistance of the XRPLF, some of the ill-gotten gains have already been
frozen, potentially saving XRP from further freefall.
Despite this setback, XRP managed to hold its ground at around
$0.49, showing resilience amidst a broader market downturn. In fact, recent data suggests there's still some fight left in this token, with millions in high-value transactions recorded just days ago.
While the exploit may have rattled XRP's cage, it seems there are still
bullish signals flashing in the midst of this crypto storm.
