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XRPL Validator Shares Transaction Data Allegedly Showing XRP Price Manipulation
Grapedrop, an XRP Ledger (XRPL) validator, has revealed what he believes could be signs of XRP price manipulation
XRPL Validator Warns of XRP Price Manipulation
He pointed out that while the XRPL network has about 1,000 nodes worldwide, only 150 to 170 actively validate transactions on the main network, and his is one of them. With this access, he began monitoring transactions in real time
He warned that this could create the illusion of higher demand, trigger algorithmic trading bots, shift market sentiment, and, in thinner markets, even push prices slightly. Grapedrop noted that while wash trading is banned in traditional finance, the crypto markets still lack consistent enforcement, leaving space for manipulation.
Large Transactions Do Not Always Point to Manipulation
However, this theory is not conclusive. Specifically, while large transactions could point to manipulation, they are not definitive signs. Notably, exchanges, market makers, and institutional players often move significant funds for routine operations such as liquidity management, internal transfers, or settling accounts.
On-chain data also doesn’t always reveal who controls a wallet or why a transaction occurred. Without direct evidence that these transfers link to coordinated trading activity, the possibility remains that these transactions are legitimate market movement rather than price-rigging. However, there is no confirmation.
Previous Comments on XRP Price Manipulation
Grapedrop’s comments join a list of accusations from others who believe XRP’s price has continued to face manipulation. In October 2023, market commentator WallStreetBulls claimed that the wealthy elite were actively manipulating the XRP price to keep it down. At the time, XRP traded for $0.48.
Also, in December 2023, XRP suffered a massive 7% crash below $0.6 within an hour, leading to questions. Speaking on the event, market analyst EGRAG argued that the price action was the result of price manipulation.
Over the years, critics have also accused Ripple of using trading bots to control XRP’s price, a claim the Ripple CTO David Schwartz has rejected. Others argue that Ripple’s monthly escrow releases put downward pressure on the token’s value