September 3, 2019Blog Posts

As Bitcoin Sharply Rebounds, Ripple Is Tearing Itself Apart Over XRP

Forbes

Bitcoin has swung higher after a sudden sell-off last week, climbing back above the psychological $10,000 per bitcoin mark. The bitcoin price added almost $1,000 in just a few hours yesterday, climbing some 6% over the 24-hour trading period, though many other major coins, including Ripple’s XRP, failed to make similar recoveries—with a civil war apparently brewing among the XRP community.

Some in the XRP community have expressed anger about Ripple selling XRP to its clients to fund various investments. Ripple revealed in July a quarter-to-quarter increase of XRP sales of around 48%.

“I’m thinking about forking XRP so we don’t have to deal with the founders dumping,” Twitter user and XRP investor CryptoBitlord, wrote last week. “This will be a community effort.”

A change.org petition calling on Ripple to stop “dumping” XRP has secured almost 3,000 signatures since it was created last month.

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