XRP price has shown a massive suppression thus far this bull cycle, a trend that a market commentator has explained to roping in Bitcoin whales
Despite the bullish developments in the ecosystem, XRP has failed to retest the $3 price level since March 2. For instance, in the last 30 days, the Ripple legal battle with the U.S. Securities and Exchange Commission (SEC) has been resolved.
Although XRP recorded an initial 11% surge when the news filtered in, the coin could not sustain the momentum to reach higher levels. This has led to speculation on the reoccurring crash in the price of the top altcoin in the broader crypto market.
Are Bitcoin Whales Behind XRP’s Volatility?
Vincent Van Code, a market commentator, has shared an interesting insight into possible reasons for the coin’s price instability.
According to Van Code, Bitcoin (BTC) whales are actively manipulating the price of XRP by “buying and dumping” the coin on a large scale.
Getting closer to understanding why the XRP pumps are squashed, and I noticed this large spike in the XRP/BTC, basically big BTC whales buying and dumping. This has a cascading effect as the arbitrage and bots balance out say XRP/USDT.
So, question is, is it just BTC whales…
— Vincent Van Code (@vincent_vancode) April 1, 2025
He noted that the XRP/BTC trading pair sharply increases whenever these price spikes occur, suggesting that Bitcoin whales were buying XRP in bulk.
However, as soon as the coin begins to soar, they sell off or “dump” the asset back in the market, causing a price crash. This creates a fluctuation in the price movement of XRP, often causing prices to drop to lower levels than before the pump.
If Van Code’s analysis is right, it could mean that Bitcoin whales might just be trading XRP for profit. Alternatively, as suggested by the market commentator himself, these BTC whales are deliberately engaged in a “much more sophisticated plot to keep XRP a neutral threat.”
Van Code’s analysis has sparked debate about this possibility. Some have argued that XRP’s inclusion in the U.S. digital asset stockpile and the upsurge in institutional interests were enough to sustain XRP’s price momentum.
Hence, the coin’s failure to continue on an upward trajectory could signal deliberate manipulation by external factors.
Institutional Adoption and ETFs, Path to XRP Stability?
Interestingly, Van Code opines that for XRP to experience real, lasting price growth, the ecosystem must return to “flipping the switch.”
This implies a significant institutional shift with the third-largest cryptocurrency. For instance, if major banks massively integrate XRP in transactions, it might help stabilize price gains.
Additionally, if the various spot XRP exchange-traded fund (ETF) applications filed by different asset managers get regulatory nods, the coin could escape BTC whales’ manipulation.
Notably, 21Shares, Canary Capital, and Bitwise are some asset management firms involved in promoting a spot XRP ETF.
Van Code also noted that another way for the Ripple-affiliated coin to sustain its price is for the asset’s trading volume to soar to a staggering $40 to $50 billion.
The challenge with this route is that XRP has to climb above $5 for it to happen. This creates a difficult scenario as the “manipulation” would not let the coin hit $5. Meanwhile, it would not achieve the projected trading volume without hitting such a price level.
As of this writing, data shows XRP is trading at a loss of 3.23%, having exchanged for $2.086 in the last 24 hours. Similarly, trading volume has dipped by 21.72% to $3.24 billion, a far cry from the projected $50 billion.
Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGEcrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making any investment decisions.
