Ripple CTO Ends Speculation on XRP Centralization, $878,917,974 Bitcoin Stun Coinbase, Ethereum Eyes $3,000, But One Thing Remains: Crypto News Digest by U.Today

XRP Community Debates Decentralization as Ripple CTO Responds

The XRP community recently engaged in discussions about the decentralization of XRP, with some users raising concerns about Ripple CEO Brad Garlinghouse being perceived as the face of the cryptocurrency. Unlike Bitcoin, which lacks a central figure, XRP is designed to be decentralized. Ripple CTO David Schwartz addressed these concerns, clarifying that XRP has no issuer and that the entire supply was created when the XRP Ledger launched.

Schwartz emphasized that the XRP Ledger differs from most blockchains in that it cannot perform an initial distribution beyond allowing anyone to claim XRP freely. He suggested that before debating decentralization, people should consider what assurances they seek regarding the system's security and control.

Whale Activity Intensifies as Bitcoin Sees Major Transfers to and from Coinbase

On May 26, Whale Alert detected significant Bitcoin movements involving Coinbase Institutional, the platform's division for institutional clients. A transfer of 619 BTC, worth over $68 million at the time, was spotted as Bitcoin dipped below $110,000 to around $107,478.

Later that day, a much larger transaction occurred when 8,022 BTC—valued at nearly $879 million—was withdrawn from Coinbase to an anonymous wallet. The transfer was executed in multiple batches of approximately 200 BTC each, all directed to a single destination.

Ethereum Continues Recovery, Approaches Critical 200-day Moving Average

Ethereum extended its recovery on May 26, climbing nearly 2.9% to $2,636 after hitting a low of $2,500 earlier in the week. The upward movement brought ETH close to its 200-day Simple Moving Average at $2,699—a key resistance level it has struggled to surpass since mid-May.

Traders are monitoring this threshold closely, as a sustained breakout could propel ETH toward $3,000. However, on-chain data from Glassnode suggests potential selling pressure near $2,800, where many investors might look to exit at breakeven. While ETH's current price above the $2,400 true market mean is encouraging, reaching $2,900 remains crucial for confirming the rally's strength.