Ripple (XRP) Rollercoaster, Important Developments, and More SHIB Warnings: Bits Recap Oct 5

TL;DR

• Ripple wins against SEC again; trial set for April 24, 2024.
• Ripple unveils anti-fraud “Clawback” feature for XRP Ledger.
• Shiba Inu’s Telegram compromised; community warned of fake token airdrop.

What’s New Around Ripple?

The blockchain enterprise made the headlines once again over the past couple of days. Itsecured a second win in a row versus the United Securities and Exchange Commission (SEC) after Judge Torres dismissed the watchdog’s intentions to appeal the court ruling from July that favors Ripple. The magistrate also setApril 24, 2024, as a trial date.

On another note, Ripplefounda spot in a prestigious Fintech 100 list for its efforts in “modernizing cross-border payments.” Previously, the companymadeits way to the top of a Fortune Magazine ranking, which determined that the firm is one of the best workplaces in technology for 2023.

Subsequently, Ripple’s teamshed more lighton the XLS-39 Clawback feature that aims to add a new layer of token control for the XRP Ledger (XRPL). It enables users to “claw back” in case of fraudulent activity.

XRP Flashed Green

Somewhat expectedly, the price of Ripple’s native token soared significantly shortly after the judge’s latest decision. It reached almost $0.55 (per CoinGecko) but later followed the bearish trend in the overall cryptocurrency market and descended to approximately $0.52 (where it trades now).

Those wondering how XRP would perform during the next bull market could take a look at our video below (based on ChatGPT):

Shiba Inu Warning

The popular memeceoin – Shiba Inu – also gathered some attention recently. The X (Twitter) user, going by the name Vet Kusama,edthe community that the SHIB Telegram admin account was compromised and wrongdoers had announced a fake BONE token airdrop on it. They urged individuals to refrain from clicking on any links promoting such an offering.

Prior to that, LUCIE – Shibarium’s Marketing Strategist –warnedindividuals to conduct proper due diligence before entering SHIB’s eco due to bad actors that employ the memecoin’s logo or Shibarium’s name in their projects. The layer-2 blockchain solution officially went live at the end of August and in the clip below, you can see its specifics and purposes: