Tremendous volatility, important warnings coming straight from the CEO – Brad Garlinghouse, whales going wild, and more – check out the most important news associated with Ripple (XRP) from the past few days.

XRP Price on a Rollercoaster

XRP has been the main subject of discussion throughout the past few days. The cryptocurrency went on to chart a fresh all-time high, surpassing its previous peak from 2018. Just a few days ago, it reached a peak of around $3.65.

This resulted in a market capitalization of around $207 billion, making it not only the third-largest cryptocurrency (by this metric) but also larger than companies such as Uber, Xiaomi, Boeing, Siemens, AT&T, and many more. But the celebrations were short-lived.

In a sudden whale-like move on the Korean exchange Upbit, over 75 million XRP was offloaded and sold directly on the market, according to crypto analyst Dom. The limited buying depth on the order book meant that there was no one to balance the selling pressure, which ultimately resulted in a crash of around 15% in a matter of hours.

The double-digit decline caused $90 million worth of long positions to be wiped out entirely, suggesting a massive long squeeze.

At the end of it all and following the intraday recovery, XRP is currently trading at around $3.16, resulting in a total loss of approximately 5% on the day.

Ripple CEO Flashes Critical Warning

Amidst the ongoing volatility, Ripple’s CEO, Brad Garlinghouse, seized the opportunity to warn XRP investors about a growing number of scammers impersonating the team with various offers.

Like clockwork, with success and market rallies, scammers ramp up their attacks on the crypto community — PLEASE BEWARE of the latest scam targeting the XRP family on YouTube and impersonating Ripple’s official account! We will keep reporting these – please do the same.

There are numerous ways in which scammers attempt to extract value from their victims, but in general, it involves some offer that sounds too good to be true.

As a rule of thumb, official teams behind legitimate crypto projects will rarely reach out to you or conduct a spontaneous airdrop or any promotions outside of their official channels without any prior notice. Keep this in mind and always make sure to verify the source of information, and remember – if it’s too good to be true, it’s either not too good or it’s simply not true.

Massive XRPL Achievement Unlocked

Last but not least for this recap, the XRPL – Ripple’s blockchain powered by XRP – saw its wallet count reach 7.2 million, which showed the strongest user growth since late 2024.

Data from CryptoQuant revealed that there has been a steady growth in wallet creation since the middle of last year.

This increase tends to reflect stronger user participation, as well as rising interest in the network. But there’s more to the story. Even though the total count of new wallets is growing, its pace is slowing down, suggesting lower market entry. While not necessarily immediately concerning, this could be indicative of a weakening upward momentum.

Ethereum (ETH) has surged by more than 50% in the past month, briefly touching $3,850. The recent FOMO-driven volume spike resulted in a 5.8% ETH-BTC movement.

New data hints at a second bullish wave, even as the leading crypto asset has since retraced its steps and is currently hovering above $3,630.

FOMO Spike

Ethereum’s price ratio against Bitcoin has dropped 5.8% in the past 60 hours. A major FOMO-driven ETH trading volume spike, similar to early May’s pattern, foreshadowed a local top.

If trading and social volumes continue declining for the rest of the week, Santiment believes it would strongly signal a second bullish wave. Such a trend could arise as retail investors’ impatience and profit-taking behavior set the stage for renewed upside momentum.

Meanwhile, Ethereum’s spot trading volumes have surpassed Bitcoin’s recently for the first time in over a year, amidst renewed investor interest as altseason gains momentum. Last week, ETH’s spot trading hit $25.7 billion, exceeding Bitcoin’s $24.4 billion. Zooming out, altcoin spot volumes reached $67 billion on July 17, the highest since March, which indicated capital rotation across the crypto market.

This optimism coincides with a growing appetite among institutional investors seeking direct exposure to ETH through a regulated investment vehicle.

Strong Institutional Demand

One year since US spot Ether ETFs launched, demand for the asset exposure remains strong. Nine ETFs from giants like BlackRock and Fidelity have collectively pulled in $8.65 billion in net inflows, as per SoSoValue data. An unbroken 14-day inflow streak signals confidence in Ethereum’s long-term role within portfolios.

Institutional interest in Ethereum extends beyond ETFs, with numerous public companies now adding ETH to their treasuries as part of a strategic diversification approach. Firms like SharpLink Gaming, BitMine Immersion Technologies, Bit Digital, Coinbase, BTCS, and GameSquare Holdings have publicly disclosed Ethereum holdings.

In fact, data shared by CoinGecko revealed that SharpLink holds 360,807 ETH, while BitMine Immersion has accumulated 300,657 ETH. Next up was Coinbase, which maintains a treasury of 137,300 ETH, followed by Bit Digital and BTCS, which hold 120,306 ETH and 55,788 ETH, respectively. GameSquare also has 10,170 ETH.

Defunct crypto exchange FTX has announced that it will start distributing the next batch of creditor claims on September 30.

This is after the bankruptcy court granted permission for it to reduce its disputed claims by $1.9 billion.

Disputed Claims Reserve Slashed by $1.9B

In a July 23 press release, FTX revealed that the next disbursement date for eligible demands will be on August 15, 2025. Payments are expected to begin on or around September 30, 2025. This timeline applies to Class 5 Customer Entitlement, Class 6 General Unsecured, and newly allowed Convenience Claims.

It also announced that it had received authority from the bankruptcy court to reduce the disputed claims reserve from $6.5 billion to $4.3 billion. The adjustment releases cash to be given to holders of approved demands in the upcoming round. However, it did not say precisely how much would be handed out in the exercise.

Payments will be made through BitGo, Kraken, and Payoneer, the designated service providers working with the FTX Recovery Trust.

The bankrupt exchange clarified that only verified claim holders will receive funds. To qualify, individuals must complete Know Your Customer (KYC) verification and submit required tax documents. For transferred entitlements, distributions will only be made if the new owner is listed in the official register before the August record date.

As of July 2025, FTX has returned approximately $6.2 billion to former customers across two major rounds, including $1.2 billion in February and $5 billion in May.

The overall repayment plan aims to distribute between $14.7 billion and $16.5 billion, with recoveries varying based on claim type and valuation. Around 98% of the creditors are expected to receive at least 119% of their claims based on the value at the time of the bankruptcy.

Legal Action From Chinese Creditors

Elsewhere, the FTX Recovery Trust lodged a motion on July 4 seeking court approval to implement a plan that could potentially deny repayments to customers in 49 “restricted jurisdictions.” Among the countries flagged are China, Russia, Saudi Arabia, and Pakistan, with China alone accounting for 82% of the $800 million in disputed claims.

The proposal has gotten a lot of backlash, particularly from Chinese creditors, with one individual, Weiwei Ji, filing an objection on behalf of over 300 users, arguing that the motion is legally unfounded and discriminatory.

Ji, who holds $15 million in verified claims, says Chinese users should not be penalized due to regulatory assumptions. He pointed to legal pathways through Hong Kong and noted that, despite trading restrictions, crypto is recognized as legal property in the country.