NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

XRP May Soon Face a 485M Sell Wall Due to This One Nefarious Group

Cole Petersen
Cole Petersen
5 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

It’s no secret that XRP has been struggling to garner any momentum over the past few years, with its downtrend not being able to reverse despite many of its peers posting intense rallies throughout 2019 and 2020.

Its weakness may be far from being over, as the on-chain data shows that one notorious scam ring currently holds 485 million XRP.

The PlusToken Ponzi Scheme – which garnered global attention throughout 2019 due to their astonishing crypto holdings – is now starting to move Bitcoin and other crypto tokens between wallets.

This suggests they are mixing the crypto before offloading it on the open markets, potentially signaling a massive selloff is imminent.

It is possible that this imminent selloff will prove to be particularly impactful to XRP, as on-chain data shows that the nefarious actors running the ploy hold a total of 485 million tokens.

If dumped onto the market, this could catalyze a massive selloff that sends the token’s value reeling lower.

The Resurgence of PlusToken: The Defunct Ponzi Scheme is Back

After a multi-month hiatus from making any movements, the ring leaders of the PlusToken scheme are now beginning to move their crypto holdings again.

According to recent data, the group has moved a total of nearly $500 million worth of crypto over the past few days – as reported by NewsBTC earlier today.

It does appear that this resurgence in activity is likely due from the tempered signs of strength seen in the markets.

Better prices mean more money and more liquidity, which may explain why they had been dormant over the past few months while the market recovered.

Spencer Noon, the head of DTC Capital, broke down the latest batch of transactions from PlusToken, explaining that they moved a total of 22k BTC, 789k ETH, 26m EOS, and 20m XRP.

“This week the following PlusToken funds have been on the move to exchanges and new addresses for mixing: – 22k BTC ($203m USD) – 789k ETH ($183m) – 26m EOS ($68m) – 20m XRP ($4m). The big question: can the crypto markets absorb this volume or are we headed lower?”

Why XRP Could be Gravely Impacted by PlusToken

Although at the moment the scammers only appear to be gearing up to sell $4 million worth of XRP, this may be due to its present lack of liquidity and its stagnant price action.

That being said, data shows that the group holds a total of 485 million XRP, and these tokens may be offloaded the second the cryptocurrency’s price begins gaining some momentum.

Thomas Silkjær, the founder of xrplorer, spoke about this in a recent post, saying:

“Notes: – If the 485,000,000 XRP from PlusToken…is in fact still in the hands of bad actors, they are being moved to exchanges in an increasing rate. – This week alone, close to 100,000,000 has been sent to [HBTC].”

Featured image from Shutterstock.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Holds Steady Above $107K As US Senate Clears $4.5T Spending Bill

Bitcoin held its ground as US President Donald Trump’s “One Big Beautiful Bill” passed the Senate late Monday narrowly by 51–50...

Christian Encila 11 hours ago
Bitcoin

Analyst Says Cycle Is Not Finished Amid 2 Years Of Bitcoin Sideways Movement

Bitcoin (BTC) is now 195 days into its latest sideways movement, which is part of a broader two-year stretch marked...

Scott Matherson 13 hours ago
Bitcoin

Bitcoin Consolidates Below Resistance — Can It Seal A Weekly Close Over $107,720?

Bitcoin is at a pivotal point, and the weekly close could define its next move. To confirm bullish continuation and...

Sandra White 14 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Capo Of Crypto Predicts Bitcoin Price Crash Below $100,000, Doom Call For Altcoins

Scott Matherson 1 hour ago
XRP Price Moves Up

XRP Price Moves Up — Hurdles Ahead Could Limit Gains

Aayush Jindal 8 hours ago
Bitcoin Price Surges Toward $110K

Bitcoin Price Surges Toward $110K — Will It Finally Stick the Landing?

Aayush Jindal 10 hours ago

Premium Sponsors

Press Releases

  • A perfect combination! ETHRANSACTION three-coin joint...

    50 minutes ago
  • Gate Launches xStocks Trading Section, Bridging Crypto...

    57 minutes ago
  • 1 Najlepsza kryptowaluta do kupienia przed wzrostem o...

    2 hours ago
  • Trader Dự Đoán Đúng XRP Giờ Gọi Tên Meme Coin

    Trader Dự Đoán Đúng XRP Giờ Gọi Tên Meme Coin...

    2 hours ago
  • Các Đồng Coin Tiềm Năng: TOKEN6900 Gây Sốt, Gọi...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.