As Bitcoin Sharply Rebounds, Ripple Is Tearing Itself Apart Over XRP

Story by: Billy Bambrough

Bitcoin has swung higher after a sudden sell-off last week, climbing back above the psychological $10,000 per bitcoin mark.

The bitcoin price added almost $1,000 in just a few hours yesterday, climbing some 6% over the 24-hour trading period, though many other major coins, including Ripple’s XRP, failed to make similar recoveries—with a civil war apparently brewing among the XRP community.

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The bitcoin price has rebounded after loses last week, though other major cryptocurrencies, including Ripple’s XRP, failed to make similar gains.


There did not appear to be any particular trigger for bitcoin’s sudden recovery, though there are a number of high-profile landmarks this month which will have likely improved sentiment, including the closely-watched Bakkt cryptocurrency platform going live.

The wider cryptocurrency market failed to rebound to the same extent as bitcoin, with ethereum adding some 4% over the trading period and XRP rising around 2%

Meanwhile, some in the XRP community have expressed anger about Ripple selling XRP to its clients to fund various investments.

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Ripple revealed in July a quarter-to-quarter increase of XRP sales of around 48%.

“I’m thinking about forking XRP so we don’t have to deal with the founders dumping,” Twitter user and XRP investor CryptoBitlord, wrote last week. “This will be a community effort.”

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