Less than 24 hours ago, Ethereum World News reported that HODLer XRP felt frustrated due to the decline of their preferred digital asset in the encrypted markets. The XRP has decreased more than 90% from its total value of $ 3.82 in January. Such a decline has prompted some XRP fans to wonder if they made the right decision by investing in the remittance coin that is one of the favorites of many.
The beginning of the XRP market
The only reason why XRP rose to $ 3.82 in January was due to the fact that the United States encrypted exchange of Coinbase was said to have he had plans to list the digital asset on his trading platform. When the plans failed, so did the value of XRP. At about the same time, Ripple was facing the SEC exam because of some investors who claimed that XRP was a security. This meant that Ripple had issued an unmarked supply of securities, thus starting an endless cycle of FUDs against the digital asset.
The recently published Satis report predicts that the value of XRP will drop to $ 0.004 over the next 10 years. The reasons given for the low forecast are three in total. Firstly, XRP has been falsely marketed since the beginning by the Ripple company and the XRP community. The second reason is that XRP is not necessary in your network. Thirdly, the report stated that XRP is centralized.
But what happens if XRP is manipulated?
A theory has been postulated on Twitter that XRP has always been manipulated. The post that highlighted this was by @GiponF and included the following screenshot that further explained the theory:
The theory seems a bit extreme, but it could be that the USD volume that leaves BTC, ETH and other digital resources hidden away to buy XRP to a minimum and just before xRapid is launched? And is XRP lowered further to encourage the sale of panic to further lower its price while the whales accumulate more?
Adding up everything XRP has been considered by many to be strongly underestimated at this time. Many have accused constant FUD as the reason why digital assets continued to fall in crypto markets. But what if the manipulation of the whales is such that it pushes the price down before xRapid becomes live?
Let us know what you think of this theory in the comment section below? Is XRP ready for size once xRapid is published?
[Photo courtesy of cryptauthority.com]
Disclaimer: This article is not intended to provide financial advice. Any opinion here should be taken as well as it is. Perform your research before investing in one of the many cryptocurrencies available.