A trader criticized the cryptocurrency of a California blockchain startup. At the same time, an unknown "whale" made a transaction for 700 million XRP

The token of the Ripple XRP blockchain startup is a fraudulent cryptocurrency subject to manipulation, the famous trader Peter Brandt said in his Twitter account. Thus, he responded to a user’s question why the asset has not yet depreciated.

                                           

At the same time, a major transaction took place on the cryptocurrency network. Someone withdrew nearly 700 million XRP tokens from the Bithumb exchange to an unknown wallet. At the current exchange rate, this is just over $ 140 million. The Whale Alert Twitter bot recorded the transfer.

                                         

This year, the XRP token showed one of the worst results compared to the leading cryptocurrencies by capitalization. During the March recession, the price of the coin fell to $ 0.101. To date, it has grown by more than 100%, to $ 0.206. For comparison, during the same period, Bitcoin went up by 150%, and Ethereum - by 180%.

In early May, Bitcoin Manipulation Abatement LLC accused Ripple of tricking investors and selling unregistered securities and filed a lawsuit. It is alleged that the blockchain startup and its head, Brad Garlinghouse, raised over $ 1 billion through the promotion and sale of XRP.