In an unexpected turn of events, Ripple’s official YouTube channel has been removed just as XRP hit its highest price of the year.
The removal of the YouTube channel has raised eyebrows in the cryptocurrency community, especially given the timing of this decision.
The removal has added an element of controversy to an otherwise positive day for Ripple.
XRP hit a two-year high, surpassing $100b market cap
On November 29, XRP surged to a two-year peak of $1.77, pushing its market capitalization to an impressive $100 billion although it has since dipped to around $98.19 billion at press time.
This surge in price comes at a time when Ripple’s legal battle against the US Securities and Exchange Commission (SEC) is nearing a resolution.
As XRP price soared, over 139 million XRP tokens were transferred between major wallets in a series of high-profile transactions, fueling speculation that large investors, or “whales,” were positioning themselves for further growth.
Whale Alert data revealed two substantial transactions that day.
The first saw a transfer of 104.39 million XRP, valued at approximately $167 million, from one wallet to another. In a separate transfer, 35 million XRP, worth over $58 million, moved between wallets.
These massive transactions caught the attention of traders, contributing to the excitement surrounding XRP’s performance.
As a result, XRP surpassed Binance Coin (BNB) in market capitalization, cementing its position as one of the top cryptocurrencies.
Suspicion rises following Ripple’s YouTube channel removal
While XRP’s performance in the market was celebrated, the removal of Ripple’s official YouTube channel has cast a shadow over the day’s developments.
The timing of the channel’s disappearance, coinciding with XRP’s yearly high, raised suspicions among many in the community.
Edo Farina, CEO of Alpha Lions Academy, tweeted his concerns, questioning whether YouTube’s actions were a coincidence.
“VERY SUSPICIOUS BEHAVIOR FROM @YouTube,” he wrote.
On the same day $XRP hits its yearly high, they suddenly decide to remove @Ripple’s YouTube channel without providing any explanation!
They published a lot of videos in the last two or three days and I’m wondering if one of those videos possibly triggered a copyright strike?? Very curious
8:22 PM · Nov 29, 2024
While some speculated that the removal could be the result of copyright or technical issues, the lack of an official explanation has led to confusion.
Ripple has yet to respond to the incident, though many in the crypto space hope for a swift resolution.
The disruption to Ripple’s communication strategy is concerning, as the YouTube channel has long been an important tool for educating the public on blockchain technology and Ripple’s ongoing initiatives.
Despite these concerns, XRP’s price continues to rise, and the ongoing legal battle between Ripple and the SEC remains at the forefront of the cryptocurrency’s future.
The resolution of this case could play a pivotal role in shaping XRP’s price trajectory in the months to come.
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