Behind The Scene: Are Banks Thwarting The Price Of Ripple’s XRP From Hitting A New All-Time High?

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If XRP history is anything to go by, then it’s obvious that the world’s third-largest digital asset simply cannot catch a break. The coin’s history is rife with several allegations of numerous misdeeds, including – but not limited to – manipulation. A recent tweet from an analyst simply known as ‘Crypto Mike’ has sparked another conversation about possible XRP mishandling, happening behind the scenes.

XRP Is Being Manipulated

According to Crypto Mike, manipulation is heavy behind the XRP curtains. However, he suggests that the manipulation is done deliberately to mislead the general crypto community. He says:

“Honestly, I think XRP price has been manipulated up the wazoo…so that average people think it’s a joke. It’s not meant for people, really. If the price is going to get as high as I think it will, then banks are probably manipulating it just like silver is manipulated.”

Crypto Mike’s train of thought is worth thinking about. Basically, if more people write XRP off as a joke then the manipulation can be increased, reduced, or at least tailored to satisfy specific needs.

Many of the replies to Crypto Mike’s tweet show that a lot of people not only agree but have also had the same opinion of XRP for a very long time. To most of these people. XRP is being manipulated to keep the prices as low as possible, for as long as possible. This means that at some point, although nobody can really tell, prices will be let loose and XRP will experience an unprecedented surge.

Could XRP Rise In 2020?

As of last week, Ripple CEO pointed out that XRP had outperformed not only Bitcoin but the broader crypto market. This rise could stem from many of Ripple’s business partnership deals that seem to onboard several financial services firms on to RippleNet.

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Last year, Ripple and MoneyGram finalized a partnership that saw a $50 million investment in MoneyGram. Before the end of the year, MoneyGram announced that at least 10% of all its transactions passing through the US/Mexico corridor are done through Ripple’s On-Demand Liquidity (ODL), which uses XRP as a bridge between two fiats.

The XRP developments with ODL, along with Ripple’s continuous partnership deals, suggest that 2020 could be a great year for XRP.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.