A crypto analyst is warning XRP investors that big banks might be secretly manipulating the price of XRP. They’re allegedly doing this to buy up XRP cheaply before its price skyrockets.
Banks’ Secret Plan?
The analyst, Pumpius, claims that banks are spreading negative stories about Ripple (the company behind XRP) to scare retail investors into selling. This isn’t about genuine regulatory concerns, Pumpius says; it’s a calculated move. They’re supposedly using the “fear, uncertainty, and doubt” (FUD) tactic to make the price drop.
Pumpius believes the recent pushback against Ripple’s attempts to get a national bank charter and access to the Federal Reserve is all part of this plan. The banks, he argues, aren’t against crypto in general, but they are against the public having easy access to powerful cryptocurrencies like XRP. They see XRP as a threat to their control.
The Volatility Isn’t Accidental
The analyst says the price swings aren’t random. They’re designed to force smaller investors to sell, creating buying opportunities for the big players. Each time bad news comes out, large amounts of XRP are being bought up, suggesting that whales (investors with huge amounts of crypto) are taking advantage of the panic.
An “Accumulation War”
Pumpius calls this an “accumulation war,” where institutional investors are using manipulation to lower the price and grab as much XRP as possible before a major price increase. He warns that by the time XRP explodes, it’ll be too late for most people to buy in at a low price. Essentially, the banks are trying to corner the market.