- XRP price surge sparks discussions, with analysts predicting targets up to $48.
- XRPScan flags suspicious U.S. Treasury accounts, urging community verification.
- Ripple developers clarify how to verify XRP account ownership through domain checks.
XRP has been making headlines recently, with notable analysts offering projections on its future price. As of press time priced at $3.23, it has seen a notable increase of 3.34% in the past 24 hours, with a trading volume of $7.64 billion. The recent surge in XRP’s value has caught the attention of both investors and analysts alike.
A top analyst, EGRAG CRYPTO, has shared an intriguing prediction based on the Elliott Wave theory, suggesting that XRP could potentially reach targets as high as $27 and $48 in the future. This analysis has generated significant interest in the crypto community, sparking discussions about the future of XRP and its market dynamics.
XRPScan Warns of Possible Misinformation
In a related development, XRPScan, a popular XRP Ledger Explorer, issued a warning to the community regarding a suspicious XRP account. The account in question allegedly claimed to be affiliated with the U.S. Treasury, raising concerns about its authenticity.
XRPScan clarified that, like any public blockchain, anyone can create an account on the XRP Ledger and set the fields to anything they wish. Consequently, it is crucial for users to verify the information before making any decisions based on such claims. To ensure the integrity of the network, XRPScan flagged the account as spam, urging the community to exercise caution.
A statement on the widely shared XRP account purporting to be a US Government affiliated account.
— XRPScan (@xrpscan) January 22, 2025
We request the community to do their own due-diligence before trusting, buying or selling tokens on the public ledger.
As with any other public blockchain, anyone can create an…
Clarifications from XRP Developers
The concerns surrounding the suspected U.S. Treasury account quickly attracted the attention of prominent figures within the XRP community. Wietse Wind, a well-known XRP Ledger developer, and Ripple’s CTO David Schwartz provided important clarifications on the matter.
Wind emphasized that the domain field on the blockchain is public, allowing anyone to input any information. Therefore, just because a KYC process is completed, it does not necessarily indicate that the account is affiliated with a government entity. Wind urged the community to verify claims rather than accept them at face value.
Additionally, Schwartz explained the technical aspects of verifying the ownership of an XRP account. According to Schwartz, the domain field and the TOML file associated with the account can only be modified by the account owner.
If these two match, it establishes a provable connection between the account and the domain. This process ensures that users can determine whether an XRP account truly belongs to the entity it claims to represent.
