WazirX CEO Denies Insider Allegations Amid XRP Transfer Controversy
In a recent development, WazirX CEO Nischal Shetty has addressed allegations of suspicious XRP transfers linked to a reported hack. An anonymous Twitter user claimed that 55.25 million XRP (worth ~₹1,500 crore) were moved from WazirX to Binance and other wallets between February 2023 and July 2024, just before a ₹2,000 crore hack. The accusations hinted at possible insider involvement, citing a tagged wallet as evidence. Shetty dismissed these claims, maintaining the exchange's integrity. As of August 2025, the situation remains under scrutiny, with the crypto community closely watching for further updates.
WazirX CEO Addresses Allegations of Suspicious XRP Transfers Amid Hack Claims
An anonymous Twitter user alleged that WazirX, a leading Indian cryptocurrency exchange, transferred 55.25 million XRP (worth approximately ₹1,500 crore) to Binance and other wallets between February 2023 and July 2024, just before a reported ₹2,000 crore hack. The claims suggested insider involvement or hidden activity, citing a tagged wallet as the source.
WazirX CEO Nischal Shetty dismissed the allegations, clarifying that the transfers were routine user withdrawals and deposits. Shetty emphasized that users frequently MOVE funds between exchanges where they hold accounts, a standard practice in crypto operations. He also noted that cold wallet consolidation—a long-standing security measure—was ongoing and transparent, with the wallet in question publicly listed on WazirX’s Proof of Reserves page.
Post-hack asset movements to exchanges and BitGo for safekeeping were disclosed, Shetty added, reinforcing the exchange’s commitment to transparency. The narrative underscores the tension between market skepticism and operational realities in crypto exchanges.
XRP Surges to Six-Year High Amid Institutional Buying Frenzy
XRP catapulted 20% to $3.61, marking its highest price since 2018 as derivatives open interest eclipsed $10 billion. Institutional accumulation NEAR the $3 level ignited the breakout, with three distinct volume spikes moving over 200 million tokens during European and US trading hours.
The rally shattered resistance at $3.53 while establishing $3.30 as a fortified support zone. Market structure now shows a bullish confluence - price holds above both the 100-hour moving average and a newly formed trendline at $3.45. Analysts project multi-year targets between $4.20 and $10+ as the token demonstrates its first sustained breakout from the SEC lawsuit overhang.
Ripple CEO Hails GENIUS Act as Historic Win for U.S. Crypto Regulation
The U.S. cryptocurrency regulatory landscape underwent a seismic shift in July 2025 with the passage of the GENIUS Act. Ripple CEO Brad Garlinghouse led industry applause, calling the legislation "transformational" and praising bipartisan cooperation. The move positions America as a frontrunner in financial innovation, particularly for stablecoins.
Garlinghouse's enthusiastic X post highlighted the bill's significance as the first major financial regulation since the 2008 crisis response. The Ripple chief emphasized the long-term implications for fintech leadership, noting the 15-year gap between comprehensive regulatory frameworks.
Political theater surrounded the legislation, with President TRUMP championing crypto dominance while facing Democratic opposition. The House's declaration of "crypto week" underscored the sector's growing political capital. Industry leaders universally endorsed the GENIUS Act as a watershed moment for digital asset clarity.
XRP Hits All-time High Amid Regulatory Breakthrough and Whale Surge
XRP surged to a record $3.64 on July 18, propelled by U.S. regulatory progress and significant whale activity. The GENIUS Act's passage in the House of Representatives provided a federal framework for stablecoins, clearing the path for Ripple's RLUSD rollout. Markets reacted immediately, with XRP jumping 9% as President Trump's expected endorsement loomed.
Technical indicators reinforce the bullish momentum. A golden cross formation and the MVRV ratio crossing its 200-day moving average mirror conditions preceding XRP's 630% rally in late 2024. Despite an RSI of 88.68 signaling overbought territory, the expanding MACD histogram suggests sustained upward pressure. The breakout past $3.50 resistance sets the stage for a test of $4.55, the next Fibonacci level.
Ripple CTO Exposes Deepfake Scam Amid XRP Price Surge
Ripple's Chief Technology Officer David Schwartz has identified and called out a sophisticated deepfake scam targeting XRP investors. The fraudulent campaign features an AI-generated video of CEO Brad Garlinghouse promoting a fictitious 100 million XRP airdrop tied to Ripple's legal proceedings with the SEC.
The scam emerges as XRP demonstrates strong market performance, currently trading at $3.43 with a 6% 24-hour gain. This price movement coincides with growing Optimism about a potential resolution in Ripple's longstanding SEC case, creating fertile ground for fraudulent schemes.
Schwartz's swift intervention on social media platform X underscores the increasing sophistication of crypto scams leveraging AI technology. "Obvious scam is obvious," the CTO remarked, warning community members against the fabricated "Ripple Rewards Program" promotion.
XRP Price Prediction 2025 – Lark Davis Says $16 Possible After Breakout
XRP's recent price surge has ignited bullish sentiment across crypto markets. The digital asset broke through a symmetrical triangle pattern, rallying 40% to $3.50 within a week. Market capitalization swelled to $215 billion as trading volume hit $23 billion, with notable activity on Coinbase and Kraken.
Crypto analyst Lark Davis describes the breakout as "juicy," noting the successful flip of $3 from resistance to support. Technical analysis suggests short-term targets of $4.10 to $7, with the potential for new all-time highs if support holds. Institutional inflows and favorable regulatory developments, including the GENIUS Act, are fueling the momentum.
