XRP News Today: Ripple Warns of XRP Scams Amid Crypto's Fed-Driven Turbulence

Ripple, the XRP token's issuer, has issued urgent warnings to investors following a surge in scams targeting XRP holders, even as broader crypto markets struggle with sustained selling pressure. The alerts come amid a challenging macroeconomic environment, with declining investor appetite and uncertainty over U.S. interest rates exacerbating volatility.

The company's recent Swell conference, a major industry event, drew significant institutional backing, including a $500 million funding round led by Pantera Capital and Brevan Howard. However, the event also became a focal point for malicious activity. Ripple reported detecting numerous fake YouTube live streams impersonating executives and promoting fraudulent "XRP doubling" schemes. The company reiterated that it will never solicit users to send tokens, urging holders to remain vigilant.

The crypto market's weakening trend is evident in recent data. Bitcoin ETFs recorded $866 million in outflows last week, marking the second consecutive day of declines. XRP's price has fallen to $2.29, with the token trailing behind Bitcoin and Ethereum in performance according to data. Analysts attribute the sell-off to broader economic factors, including a drop in the probability of a December Federal Reserve rate cut. As of Nov. 15, only 45.9% of investors anticipate a 25-basis-point reduction, down from nearly 67% a week earlier. The Fed's divided stance-highlighted by dissenting votes during its October meeting-has left markets in limbo.

Ripple's warnings underscore a recurring challenge in the crypto sector. Scammers have long exploited high-profile events to deploy phishing schemes, often using fabricated giveaways or deepfake content. The company's X account emphasized that all such offers are fraudulent, a message reinforced by executives during past incidents. Meanwhile, RippleX, the firm's decentralized ledger development arm, has also flagged deepfake scams targeting the XRP community.

Despite the setbacks, Ripple's strategic moves remain a bright spot. The firm's valuation has surged to $40 billion following the Swell funding, and its trade agreements with countries like El Salvador and Switzerland signal long-term growth ambitions. However, the crypto market's fragility persists. With the U.S. government shutdown resolved and Trump's re-election bolstering pro-business policies, investors remain cautious, balancing optimism over economic reforms with macroeconomic headwinds.

As the Fed's December policy meeting looms, market participants are bracing for further turbulence. The crypto sector's ability to rebound will likely hinge on both regulatory clarity and the success of companies like Ripple in navigating an increasingly complex threat landscape.