- XRP is down by over 3% in the past week as it trades below the $0.5 mark.
- XRP influencer accuses wealthy elite of manipulating XRP’s price.
- However, the crypto community debates the validity of the claims, calling for concrete evidence.
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.
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.
Similarly, another crypto analyst dismissed the allegations, implying that WSB lacked the technical analysis skills to understand market dynamics.
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