Ripple has been one of the most volatile cryptocurrencies in the market through 2023.
XRP is currently trading at a 60% price increase from the start of the year. And on one occasion, the cryptocurrency even doubled in less than a day, after Ripple scored its first major victory against the SEC in a US district court.
However, how possible is it that Ripple is being manipulated?
According to a recent post from a crypto analyst on Twitter, we may have reason to believe that XRP's price action isn't all that it seems.
According to a recent post this week, crypto analyst, WallStreetBulls mentioned something quite interesting.
As it turns out, Ripple is possibly under control (or manipulation) by some of the wealthy elite and major bankers.
This comes in, just as the crypto community is trying to predict the future value and price prospects of this cryptocurrency. Especially now that Ripple's defence is starting to show strength against the US Securities and Exchange Commission (SEC) in court.
According to WallStreetBulls' post, Ripple holders need to keep an eye out for some of the "significant market manipulation" that is currently going on with the cryptocurrency.
The analyst claims that the "0.01% wealthy elite and major bankers", who, by the way, have had a history of manipulating other valuable assets like gold, are now trying to control the price of Ripple.
Wall Street Bulls shared a price chart of XRP, showing the sharp drop from July's $0.94 high when Judge Analisa Torres ruled that Ripple was right (to some degree), and that its Ripple sales weren't investment contracts as the SEC claimed.
Wall Street Bulls argues that this price decline makes no sense because it so happens that XRP is now one of the only assets with regulatory clarity after its clear victory in court against the SEC.
The analyst says that a possible explanation for this is that there are Ripple.
According to WallStreetBulls, the media houses are also in on the whole issue.
The analyst says that these media platforms (which are also allegedly serving the interests of the elites) have been "consistently" launching "unwarranted attacks on XRP".
He says that these media houses are trying to attack the cryptocurrency's value and reputation in the public eye.
Wall Street Bulls accused these media outlets of spreading misinformation and FUD (fear, uncertainty, and doubt) about Ripple. He says that they're doing this to influence the way the public views the cryptocurrency and its ecosystem.
But Why Could The Elites Be Doing This?
The crypto analyst went further to say that the "elites and major bankers" are doing this to do as much damage as they can to the price of XRP.
Then when it crashes severely, they can accumulate more Ripple at lower prices by forcing holders to sell their tokens.
Wall Street Bulls says that these elites want to hoard XRP because they recognize its potential to bring in massive profit for holders in the long term.
Wall Street Bulls further advised investors to be aware of these tactics and to hold firm and stay informed. Investors were advised to stand their ground, protect their investment, and believe in the intrinsic value of XRP.
According to WallStreetBulls, XRP is one of the most robust digital assets out there, with a clear regulatory framework, and strong legal standing.
According to Judge Analisa Torres, XRP is not an investment contract as the SEC claims, but a medium of exchange with fast and cheap cross-border capabilities.
XRP is also more scalable, secure, environmentally friendly, and innovative than others according to WallStreetBulls, and is an asset that can transform financial systems for the better, on a global scale.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.