Today's XRP news: Encryption experts accuse mainstream CEX of manipulating XRP prices, possibly to suppress its rise potential.

Recently, a crypto expert publicly accused mainstream CEX of intentionally dumping XRP to suppress its price pump. Despite the broader market recovering, XRP's price has fallen 4% in the past week and is currently hovering around $2.80. This accusation seems more credible after another analyst revealed that the CEX was secretly selling Ethereum through market maker Wintermute. Despite these bearish pressures, on-chain data and technical indicators show that a large number of whales are accumulating XRP at lower prices, indicating that the token has potential rebound power.

CEX Accused of Manipulating XRP Prices to Suppress Its Breakout Rise

Recently, cryptocurrency expert Pumpius posted a series of messages on the X platform (formerly Twitter), claiming that the world's largest cryptocurrency exchange is "deliberately" applying selling pressure on XRP. Pumpius believes that the business model of this CEX relies on retail trading and creating "artificial liquidity exhaustion," while the utility of XRP, especially its potential applications in cross-border payments, threatens the market-making strategy that Binance has relied on for years. He pointed out that whenever Ripple achieves positive news, such as the "end of the XRP lawsuit," the market immediately experiences sudden selling pressure, which is not a coincidence, but rather an attempt to suppress XRP into "another altcoin."

Another cryptocurrency analyst, Pepesso, seems to corroborate this statement. He pointed out that Binance transferred and sold more than 1.5 billion dollars worth of Ether through the market maker Wintermute in just one week, aiming to cover up its own trading activities. Critics argue that this coordinated selling behavior created a false impression of market pressure while liquidating the positions of leveraged traders en masse, thereby increasing the exchange's profits. A similar situation has also been observed in the Solana market, where some believe that the prices of these crypto assets have been artificially depressed for the purpose of profiting the exchanges.

XRP price under pressure, but whale accumulation provides potential support

Despite broader signs of market recovery, the price of XRP has fallen by 4% over the past week, currently hovering around $2.80. On-chain data shows that the number of active addresses on the XRP ledger has plummeted from about 45,000 in mid-July to around 20,000 now, indicating that many retail investors are becoming increasingly cautious, making the Token more susceptible to external selling pressure.

However, during this period of price pressure, some investors have adopted a contrarian strategy. Data shows that Whale accounts have increased their holdings by about 340 million XRP in the past two weeks, indicating that large holders are strategically buying during the price correction. In addition, China's supply chain giant Linklogis recently announced that it will use the XRP ledger to support its global financial platform, marking an important step for Ripple's ecosystem in Asia. These positive fundamental developments provide XRP with the potential to return to previous highs.

Cryptocurrency trader Ali Martinez pointed out that this whale accumulation pattern occurs as the price of XRP faces the critical technical threshold of 2.77 USD. If XRP can hold this support level, it is expected to challenge the resistance level of 2.90 USD and may trigger a rise towards 3.70 USD. This coordinated accumulation behavior indicates that investors with strong capital are confident about XRP breaking above the resistance.

Mixed Signals: Bullish Indicators Coexist with Bearish Prospects

In addition to the whale accumulation of data, Martinez also emphasized that the TD Sequential indicator shows that XRP has experienced consecutive buy signals, indicating a potential rebound. TD Sequential is a momentum oscillation indicator used to identify potential trend reversal points, and it typically issues buy signals when an asset is oversold and ready to rebound.

However, these bullish signs appear against a backdrop of unclear market prospects. An industry report indicates that while institutional liquidity is rotating from Bitcoin to Ethereum and the broader altcoin market, another report gives a more bearish forecast for the recent outlook of altcoins. The report points out that the total market capitalization of altcoins is stagnant, and the rise of individual tokens is more about internal fund rotation rather than new capital inflow. The report warns that with risk-off sentiment prevailing, altcoins like XRP, Cardano (ADA), and Dogecoin (DOGE) may experience cyclical lows in September, but structural driving factors are expected to come back into play in the fourth quarter.

Conclusion

Overall, the market for XRP is currently in a fierce battle between bullish forces. On one hand, accusations of price manipulation by mainstream CEXs, a decrease in active addresses in the market, and the overall stagnation of the altcoin market have all exerted strong downward pressure on XRP. This has caused XRP to fail to follow the recovery of the mainstream market over the past week, resulting in a decline instead.

On the other hand, the continuous accumulation from whale accounts and the potential approval of the U.S. XRP ETF (expected in October) provide strong fundamental support for XRP. Although it may face more volatility in the short term, technical analysis and on-chain data suggest that XRP's price has limited downside potential and could welcome a pump at any time. For investors, the current sluggish period may represent a strategic buying opportunity, but risks still exist and close attention to market dynamics is needed.