XRP News Today: XRP Hits $3.10 Plummets 10.24% in 24 Hours as CEO Warns of Deepfake Scams

Ripple CEO Brad Garlinghouse has issued urgent warnings about a surge in deepfake and impersonation scams targeting the XRP community, coinciding with the token’s recent price rally to $3.10 before a sharp 10.24% decline over 24 hours [1]. The price spike, driven by growing on-chain activity and investor interest, has drawn attention to XRP as Bitcoin’s record-breaking performance overshadows broader market dynamics. However, the token’s heightened visibility has also exposed it to increasingly sophisticated fraudulent tactics. Cybercriminals are exploiting YouTube and social media platforms to mimic Ripple’s official presence, using AI-generated deepfake videos of Garlinghouse and other executives to promote fake XRP airdrop schemes [1]. These scams often lure victims with promises of large token rewards in exchange for upfront deposits, leveraging the credibility of Ripple’s brand to deceive users.

Garlinghouse emphasized that Ripple and its leadership would never request users to send XRP, urging the community to remain vigilant against such tactics [1]. “Like clockwork, with success and market rallies, scammers ramp up their attacks,” he stated, highlighting the need for collective action to report and mitigate these threats. The CEO’s remarks come amid renewed scrutiny of XRP’s vulnerability to exploitation, a pattern that has persisted for years. Ripple previously sued YouTube over similar scams and has faced pump-and-dump schemes orchestrated by online groups. Regulatory challenges further complicate the token’s trajectory, including a $700,000 fine from FinCEN in 2015 for AML violations [1].

The recent price volatility underscores the risks of speculative trading in a market prone to manipulation. XRP’s 24-hour drop to $3.10, as reported by CoinMarketCap, reflects the immediate impact of heightened scam activity on investor confidence [1]. Despite these setbacks, optimism about Ripple’s long-term prospects remains strong. The passage of the GENIUS Act has reignited speculation about the token’s role in broader financial innovation, while analysts like Black Swan Capitalist’s Versan Aljarrah have pointed to Ripple’s upcoming stablecoin, RLUSD, as a potential catalyst for the U.S. digital dollar agenda [1].

While bullish forecasts for XRP range between $5 and $30, the token’s future will depend on its ability to address ongoing security and regulatory challenges. Garlinghouse’s warnings serve as a critical reminder of the importance of due diligence in an industry still grappling with systemic fraud. As the crypto landscape evolves, the interplay between technological innovation and malicious activity will remain a defining factor for XRP and its ecosystem.

Source: [1] [Ripple CEO warns of Deepfake XRP scams as token surges to $3.10, crashes] [https://ambcrypto.com/ripple-ceo-warns-of-deepfake-xrp-scams-as-token-surges-to-3-10-crashes/].