XRP News Today: Ripple Warns XRP Holders of YouTube Impersonation Scams Amid 6% Price Drop

Ripple has issued an urgent warning to XRP holders following a surge in YouTube-based scams impersonating its official brand and accounts. The company confirmed that scammers are increasingly hijacking existing YouTube channels and rebranding them to mimic Ripple’s verified presence, including its official username “@Ripple.” These fraudulent accounts post misleading content aimed at deceiving users into sending XRP to unauthorized wallets. Ripple reiterated that it will never request users to transfer their tokens under any circumstances [1].

The scam tactics involve attackers updating stolen accounts with Ripple’s branding and communication style to create a false appearance of legitimacy. This strategy targets XRP holders, particularly those unfamiliar with the company’s official protocols. Ripple has directed users to its verified accounts and a dedicated resource page to identify and report scams. The company emphasized that any message requesting XRP for airdrops, giveaways, or promotions is fraudulent [1].

Community reactions highlight growing frustration with the lack of enforcement by social media platforms. XRP holder and advocate XRPcryptowolf urged Ripple to pursue legal action against YouTube, referencing its 2020 lawsuit against the platform over similar scams. The case, which was settled, underscored persistent gaps in accountability for impersonation schemes. Another user, Lourenço Matalonga, noted that the rise in scams could indicate XRP’s increased visibility, though the sentiment reflects broader concerns about platform safety [1].

Ripple’s 2020 litigation against YouTube centered on the platform’s failure to remove impersonation content and fraudulent XRP promotions. CEO Brad Garlinghouse has previously criticized both YouTube and X for permitting deepfake videos using his likeness, which were promoted via paid ads. These incidents highlight challenges in curbing sophisticated scams that exploit branding and visual cues to mislead audiences [1].

Despite these efforts, XRP’s market dynamics have faced additional headwinds. Legal analyst Bill Morgan dismissed speculation about Ripple dumping its escrowed tokens, citing structural safeguards against sudden sales. However, the token fell 6% amid the SEC’s delayed approval of Bitwise’s crypto ETF, amplifying investor uncertainty [2]. Technical analysis suggests a bearish trend, with declining open interest in futures contracts and waning short-term trading sentiment. While XRP briefly rose 3.14% in late July, analysts caution that sustained gains remain uncertain [4].

The cryptocurrency market’s broader turbulence mirrors XRP’s challenges. Cardano’s ADA, for instance, saw a 9.48% drop in futures open interest as it struggled to hold its $0.75 support level. Yet Ripple’s focus remains on addressing fraud while defending its escrow mechanism. Morgan’s comments align with a strategy emphasizing legal compliance and market stability, though the SEC’s regulatory delays continue to weigh on investor confidence [3][7].

Ripple’s latest alert underscores the persistent threat of impersonation in the digital asset ecosystem. By prioritizing public awareness and verified communication, the company aims to mitigate risks for XRP holders. As regulatory clarity remains elusive, market participants remain divided on XRP’s trajectory, with outcomes likely hinging on the SEC’s final stance on crypto ETFs and token classification [1][2].

Source:

[1] [title1] [https://timestabloid.com/ripple-issues-fresh-critical-warning-to-xrp-holders/]

[2] [title2] [https://www.mitrade.com/insights/news/live-news/article-3-981654-20250724]

[3] [title3] [https://m.economictimes.com/news/international/us/xrp-sinks-6-percent-again-as-sec-delays-bitwise-crypto-etf-is-the-dip-a-red-flag-or-a-golden-buy-signal-heres-the-2025-xrp-price-prediction-you-need-to-see/articleshow/122859722.cms]

[4] [title4] [https://www.mitrade.com/insights/news/live-news/article-5-981104-20250723]

[7] [title7] [https://cryptorank.io/news/feed/a0abd-ada-holds-critical-0-75-support-after-open-interest-drops-9-48-rally-or-crash-ahead]