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New blockchain project backed by Ripple co-founder sparks XRP community backlash over token sales.

Market News
04 Nov 2026, 14:48 WIB
UToday
View Source
Bearish
New blockchain project backed by Ripple co-founder sparks XRP community backlash over token sales.

A new blockchain project called Yellow, backed by Ripple co-founder Chris Larsen, faced heavy criticism from the XRP community after its token launch. Tokens worth about 20,000 XRP were sold from a wallet linked to the project team shortly after launch, which the team called "arbitrage" to balance prices between Ethereum and XRP Ledger markets. However, community members saw this as a liquidity extraction harming early retail buyers, fueling distrust. The project aims to develop clearing solutions for AI agents but has not addressed the backlash publicly yet.

XRP (Ripple) trades at Rp23.231 on Pluang as of Nov 04, 2026 20:02 WIB, showing a minimal 1-day change of +0.01%. The token's market cap stands at Rp1.468,8 trillion with a 24-hour trading volume of Rp44,66 trillion. Pluang users show balanced order activity, with 51% buying and 49% selling, and a typical hold time of 73 days.

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