The cryptocurrency market has once again surprised analysts with price increases in several major digital assets. While XRP, Bitcoin, and Ethereum experienced significant gains, traders express concerns about potential market manipulations.
XRP's Sharp Rise in 24 Hours
XRP surged over 8%, reaching $2.35. Many analysts expected the SEC settlement to stabilize the market; however, some traders believe this price increase was artificially created. They pointed to abnormal trading volumes, suggesting a classic bot-driven rise.
"Despite the latest major news of SEC v Ripple settlement, this sham of a market is still being manipulated," stated Vincent Van Code.
Rejection of GENIUS Act
Adding to the suspicions, the cryptocurrency market increased following the rejection of the GENIUS Act, which logically should have weighed on prices. Bitcoin rose 5.87% to $102,880.26, Ethereum jumped 20.39% to $2,170.88, and Hedera (HBAR) gained 10.39%. This unexpected increase occurred as automated systems pulled liquidity out of XRP pairs and exploited price gaps across different markets.
Long-Term Investment as the Only Strategy
Many in the community advocate for a long-term approach, ignoring short-term volatility and manipulations. Advice circulating suggests to accumulate on dips and avoid chasing artificial price surges. In an environment where fundamental factors and traditional supply-demand dynamics seem absent, patience and personal conviction become the only reliable strategies for small investors.
Thus, despite dynamic changes in the cryptocurrency market and significant price spikes, there is a need for caution and careful analysis. Traders urge against succumbing to temporary manipulations and emphasize the importance of long-term investment strategies.
