Ripple price analysis: XRP/USD hibernated under $0.62, waiting for hackers to cash the loot
|- Ripple is rangebound amid quiet directionless trading.
- Traders discuss security preach in Canadian banks, where hackers asked for the ransom to be paid in XRP.
Ripple, the third largest coin by market value, is changing hands at $0.6160, amid quiet trading session. The recovery momentum has faded away on approach to $0.6200 resistance, while 200-SMA (hourly chart) serves as a good short-term support
As we reported earlier, two Canadian banks were hacked with over 90,000 accounts compromised. The thieves demand $1M ransom paid in XRP for a safe return of personal data, which is somewhat unusual as hackers traditionally request Bitcoins.
Attackers were going to leak the information if they didn't receive the payment before May 28 2018 11:59PM and probably they did it as the banks were not eager to comply to the requirements.
"Our practice is not to make payments to fraudsters," Bank of Montreal said. "We are focused on protecting and helping our customers."
Meanwhile the community is discussing how such unwanted popularity among hackers may influence XRP price and whether Ripple company should step in and block the transaction. It's an interesting case as it brings us back to a moral choice between immutability and non-intrusion and countering harmful and illegal activities.
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