A leading XRP holder has accused institutional traders of systematically manipulating the token's price. The pattern-XRP surging toward resistance before U.S. market open, then crashing after trading begins-has occurred nine times since February, according to data shared online.
The trader, known as Arthur, labeled the strategy a potential 'new Jane Street playbook,' referencing the quantitative firm’s known market impact. He notes that each episode coincides with high leveraged long positions, suggesting coordinated action rather than coincidence.
Despite major positive catalysts-including Ripple’s billion-dollar acquisitions and ETF inflows-XRP remains nearly 44% below its recent peak. Arthur argues this persistent reversal indicates suppression.
Not all agree. Critics like trader Robert W argue the pattern reflects normal liquidity shifts when U.S. markets open, not manipulation. They point to similar behaviors across other assets.
The debate underscores growing scrutiny over market integrity in crypto, especially ahead of anticipated regulatory developments.