Ripple CEO Brad Garlinghouse Targeted by Instagram Impersonation Scam

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 3 days ago

Should l Buy XRP?

Scam Warning Issued: Ripple CEO Brad Garlinghouse has reportedly been targeted by an impersonation scam on Instagram, prompting public warnings about fake accounts, which could negatively impact Ripple's brand image and user trust in the cryptocurrency space.
Historical Pattern Reemerges: Although the current report claims this is a new incident, Garlinghouse had previously warned about similar impersonation accounts as early as 2019, indicating a persistent issue that may require Ripple to enhance its user education and anti-scam measures.
Market Impact Analysis: With XRP currently trading at $1.33, down about 1% over the past 24 hours, the extreme fear in the market could lead scammers to exploit investor anxiety, necessitating Ripple's vigilance over its user base's security.
Official Guidance Recommendations: Ripple advises users to verify social media accounts through official channels to avoid interaction with impersonation accounts claiming to represent company leadership, a strategy aimed at protecting users from financial losses while maintaining Ripple's market reputation.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 2 indicators are flashing buy, while 6 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1.18	1.237	1.3	1.358	1.421	1.479	1.542
Fibonacci	1.237	1.283	1.312	1.358	1.404	1.433	1.479

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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