Renowned financial expert Dr. Jim Willie suggests that the stagnation in the XRP price is not coincidental, but rather a coordinated effort by major institutions.
Speaking in an interview with Versan Aljarrah, Dr. Willie claims XRP’s recent lack of significant price movement reflects a deliberate stall in price action.
He alleges that large financial institutions, especially banks, are actively trying to accumulate XRP at suppressed prices before the token makes its next major move. Despite specifically mentioning banks, Dr. Willie singled out BlackRock among the institutions suppressing XRP price, labeling it a “disgustingly corrupt equity firm.”
Banks Want to Accumulate XRP Cheaply
According to him, institutions like BlackRock are secretly working behind the scenes under non-disclosure agreements (NDAs) to suppress the XRP price. In his view, these powerful players are reluctant to acquire XRP at its actual value price, which he believes should be around $7 to $ 8.
Instead, they are influencing Ripple to keep the price stagnant below $3, enabling them to accumulate a “boatload” of the token before the market fully reprices it to its actual value of $7-8.
XRP Price Suppression Theory
Dr. Willie’s statement reflects widespread speculation in the XRP community about the token’s suppression theory. Speculation suggests that several strategies have been employed to keep XRP’s price undervalued, including Ripple’s monthly escrow release and regulatory woes.
While the allegation has gained steam over the years, there is no evidence that Ripple is cooperating with banks or other financial institutions to suppress XRP’s price.
Ripple’s CTO, David Schwartz, has consistently dismissed these claims. Last year, he emphasized that XRP’s performance is comparable to that of other established cryptocurrencies, such as XLM and ADA.
His comparison was aimed at debunking persistent theories that Ripple is deliberately suppressing XRP’s price through its monthly escrow releases and token sales.
Price Drops Below $3 Again
XRP recently slipped back below the $3 mark, falling from $3.18 on September 13 to a weekly low of $2.96 on September 15. Although it briefly rebounded to $3.14, the token has since dropped again and is currently trading at $2.99.
The recent dip does not confirm that XRP is being deliberately held below $3. Instead, its movement has largely mirrored the broader crypto market over the past 24 hours. For context, while Bitcoin is down 1.05% over the past day, XRP’s price has retraced 1.43% in the same timeframe.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
