A prominent XRP community figure has called the attention of the XRP to an alleged significant market manipulation fueled by 0.01% of the wealthy elite and banks.
Notable crypto and stock-focused financial blog WallStreetBulls recently brought these allegations to the limelight. As pointed out, the alleged manipulation is the primary reason behind the suppression of the value of XRP.
? Urgent Alert!‼️ ?
Attention #XRP holders! There's a significant market manipulation underway, and it appears that the 0.01% wealthy elite and major bankers are at the helm of it!
?️♂️ Manipulation Insight:
These financial powerhouses, historically known for manipulating… pic.twitter.com/YStUevS4vc— WallStreetBulls (@w_thejazz) October 9, 2023
Alleged XRP Market Manipulation
The blog claims the financial giants behind the manipulation of XRP have a history of doing the same with other assets. The blog pointed out that precious metals like Gold are also a target of these wealthy entities.
WallStreetBull accompanied the alert with XRP’s historical price chart. This chart shows XRP soared above the $0.8 level but has slipped to the current point at $0.4825.
The blog alleges that the market manipulation became evident, seeing how XRP’s regulatory clarity has not translated to higher values. WallStreetBulls claimed that despite the apparent victory XRP bagged in court against the SEC, it still faces negative pressure.
WallStreetBulls further alleged the involvement of mainstream media outlets. The blog said the media has supported the manipulators through “unwarranted attacks on XRP.” The goal is simple: to reduce the value of XRP and make it less credible to the public.
With the whistle blown on the alleged manipulation, WallStreetBulls tasked XRP holders to avoid falling prey to the manipulators. While some community members have voiced intentions to buy more tokens, others have dismissed these statements as mere allegations.
Optimism Growing on XRP’s Future
XRP has been classified as the only altcoin with regulatory clarity in the United States after XRP. This classification, which came through a verdict from Judge Analisa Torres in the Ripple vs SEC case, has fueled optimism about the future of the asset.
This optimism has been solidified by critical technical indicators hinting at a potential reversal from current levels. The Stochastic Relative Strength Index (Stoch RSI) and the Commodity Channel Index (CCI) have proven that XRP is oversold. This implies that a price reversal is likely in the near term.
Though the asset is down by more than 87% from its All-Time High (ATH), the optimism for recovery remains high. XRP changes hands at $0.4819 as of press time, per CoinMarketCap data.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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