XRP Price Rockets 8% Despite Major Security Breach – You Won’t Believe What Happened Next!

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Well, well, well, just when you think the crypto world can’t get any crazier, in comes XRP, defying all odds. The price has surged by over 8%—not because the world makes sense, but because U.S. President Donald Trump had something to say about interest rates. Oh, and there’s also a little thing called growing institutional interest in the token. Sure, why not?

XRP is now sitting comfortably at $2.22, which is only a hop, skip, and a jump away from the almighty psychological barrier of $3.00. Technical indicators are practically doing the cha-cha with optimism, with the Relative Strength Index (RSI) happily staying in bullish territory. And let’s not forget the 50 and 100-day Exponential Moving Averages (EMAs) that are acting like a warm, fuzzy security blanket for XRP’s price.

Now, just to make things more interesting, market sentiment has received a big shot of espresso thanks to Trump’s clarification that he has “no intention of firing” Federal Reserve Chair Jerome Powell. This clarifying statement about not firing people has somehow led to crypto rallies across the board. Bitcoin, Ethereum, Solana—hell, even Solana joined the party, all rebounding along with XRP. Can’t make this up.

XRP Ledger Library Compromised in Supply Chain Attack

Of course, as if this crypto joyride wasn’t fun enough, we hit a bit of a pothole. A critical vulnerability was discovered in the XRP Ledger Foundation’s official JavaScript library—yes, that thing developers use to interact with the Ripple ledger. The xrpl.js package was compromised in a supply chain attack, because why not throw a little drama into the mix?

Turns out, attackers inserted a malicious function designed to steal wallet seeds and private keys. This attack impacted hundreds of thousands of applications and websites. A security firm, Aikido, wasn’t shy about calling this a “potentially catastrophic” breach for Ripple. The malicious code was carefully hidden in several versions of the library, cleverly camouflaged as something innocuous. It could drain funds from compromised wallets without anyone noticing. Fun, right?

To save the day, developers were told to rotate their private keys and deactivate master keys—basically, a crypto developer’s version of a spa day. They were also encouraged to upgrade to version 4.2.5, the patched version. Phew!

XRP Ledger Foundation Responds Swiftly

In a classic case of ‘better late than never,’ the XRP Ledger Foundation quickly replaced the compromised package. “We’ve removed the previously compromised version,” they announced on X (formerly Twitter). Notably, major platforms like XRPScan, First Ledger, Gen3 Games, and Xaman Wallet were untouched by the breach. How’s that for a silver lining?

Despite all this drama, XRP’s price remained strong, showing that investors still trust it, even if it’s the crypto equivalent of a soap opera. XRP’s market cap now exceeds $125 billion, with a fully diluted value creeping close to $215 billion, according to CoinGecko. Not bad for a token that was almost compromised by some sneaky code.

Institutional Interest in Ripple Grows

Meanwhile, XRP is riding a wave of institutional interest, which seems to be growing by the day. Since Trump’s win in the 2024 U.S. presidential election (because, of course, that’s a thing), XRP’s value has jumped over 300%. People are finally starting to notice the Ripple token, and even regulators seem to be loosening their grip. Several asset managers are now eagerly waiting for the U.S. SEC to give the green light for XRP-backed exchange-traded funds (ETFs). Who’s excited for that? Anyone?

And if that wasn’t enough, Coinbase recently listed XRP futures contracts on its U.S. derivatives exchange. So, yeah, institutional demand is pretty much off the charts. This is happening while the Ripple-SEC lawsuit continues to drag on, with observers speculating that a resolution might lead to even more XRP adoption. Grab the popcorn, folks.

Cautious Optimism Ahead

Okay, let’s dial down the optimism for a second. While XRP bulls are salivating at the prospect of hitting the $3 mark, analysts are reminding us that, like any good rollercoaster, the ride can go down as quickly as it goes up. If XRP falls below those cozy EMAs, we could see the price dip back to $2.00 or even $1.80. That’s if the bear market gets its claws out. But according to Coinglass, there’s a bullish long-to-short ratio of 1.02. More traders are betting on XRP’s rise, so maybe, just maybe, it’s not all doom and gloom.

For now, it’s all about balancing technical momentum, institutional optimism, and just the right amount of cybersecurity vigilance. As Ripple fights through legal and technological challenges, XRP remains one of the most thrilling tokens to watch in the crypto world. Will it crash or soar? Stay tuned. Same bat-time, same bat-channel.

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2025-04-23 22:06