Is XRP’s Price Truly Under Manipulation by Major Banks?

Data from CoinMarketCap suggests that XRP is down by over 3% in the past week as it trades below the $0.5 mark. Amid XRP’s bearish performance, heated debates have surfaced within the crypto community about XRP being subject to market manipulation.

In a recent tweet, XRP influencer WallStreetBulls (WSB) raised concerns about the supposed manipulation of XRP’s price, alleging that the perpetrators behind this manipulation are the wealthy elite. According to him, they are significant bankers representing a mere 0.01% of the market participating population.

🚨 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

WSB highlighted that the financial powerhouses, historically associated with manipulating assets like gold, are now purportedly exerting pressure on the value of XRP. He argued that the manipulation takes place despite XRP’s recent legal victory against the SEC, which granted it regulatory clarity.

The tweet also accused certain media outlets of serving the interests of these elites by consistently launching unwarranted attacks on XRP, aiming to undermine its value and credibility among the general public.

Besides, WSB urged XRP investors to remain vigilant and informed about these alleged manipulative tactics, encouraging them to stand their ground and resist selling their assets at lower prices.

However, not everyone shared WSB’s perspective. JD, a prominent crypto chart analyst, expressed skepticism about the manipulation claims, suggesting that the short-term correction was anticipated weeks ago.

Likewise, an X user downplayed the notion of manipulation and asserted that the so-called “wealthy elite” and major bankers were not concerned with XRP. The commenter called for concrete evidence and sources to support such claims.

The so called “wealthy elite or major 🤨 Bankers” couldn’t give two shits about this coin right now. Nothing I repeat NOTHING is being manipulated.
Oh and if you dare name some names and give a source or two. Untill then stop this false narrative. https://t.co/uwWQy4SKPe

— AA (@blaaanco945) October 9, 2023

Similarly, another crypto analyst dismissed the allegations, implying that WSB lacked the technical analysis skills to understand market dynamics.

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