- Ripple’s CTO explained that XRP had no central issuer and was fully distributed at inception, countering concerns about centralization.
- A Bitcoin transfer totaling over $878 million exited Coinbase across dozens of transactions, pointing to potential institutional repositioning.
- Ethereum’s price surge past $2,600 places it near the 200-day SMA, signaling renewed market interest and a potential approach toward $3,000.
Ripple’s Chief Technology Officer, David Schwartz, addressed renewed questions regarding the decentralization of XRP. The discussion started because some online users felt unsure about XRP’s structure. After all, Ripple CEO Brad Garlinghouse is deeply involved. Schwartz explained that XRP had no issuer and that its full supply was generated at the creation of the XRP Ledger.
He clarified that the XRP Ledger differs from most other blockchains because it does not allow new token distribution beyond initial availability. Schwartz advised the community to consider what decentralization means in practice, emphasizing that understanding potential vulnerabilities is key to evaluating the system’s strength.
Nearly $879 Million in Bitcoin Leaves Coinbase
A series of large Bitcoin movements on May 26 drew attention to Coinbase, the largest crypto exchange in the United States. Whale Alert, a platform tracking large crypto transfers, first reported a 619 BTC deposit valued at over $68 million to Coinbase Institutional.
Later the same day, a massive withdrawal occurred involving 8,022 BTC, valued at nearly $879 million. The movement took place in multiple transactions, each transferring around 200 BTC to a single anonymous wallet. This marked one of the largest Bitcoin movements in recent weeks and raised speculation regarding institutional activity.
Ethereum Approaches $3,000 Resistance Zone
Ethereum continued its steady upward trend on May 27, rising by nearly 2.9 percent to reach $2,636. The price had rebounded from a low of $2,500 recorded on May 23. ETH is now approaching a crucial technical level at the 200-day Simple Moving Average, placed at $2,699.
Traders are watching closely as this level has acted as a strong resistance since mid-May. On-chain data indicates that potential selling pressure could emerge around $2,800, where many traders might exit at breakeven. Still, the current price staying above the $2,400 market mean is seen as a strong support for continued momentum.
