The article examines significant price changes in XRP and potential factors that may have influenced its history. Special attention is given to the rally period in 2017 and current market expectations.
Behind the Scenes of the 2017 XRP Rally
At the beginning of 2017, XRP was trading below one cent, but by the end of the year, it surged over 800% to exceed $3. This growth was unprecedented in the cryptocurrency world. However, during this time, several Asian exchanges were delisted from CoinMarketCap, sharply lowering the average price of the altcoin. As a result, many investors assumed the rally had ended, prompting a wave of sell-offs and leading to a decline in price.
Current Expectations for the Altcoin
Data from blockchain analysis firm Glassnode indicates a prolonged accumulation phase for XRP, which may suggest price suppression. Experts believe that further clarification of the regulatory framework and the potential approval of a spot ETF this year could create upward pressure on the price. This promises a sharp rise in the short term.
Consequences of Market Manipulation
The removal of several Asian exchanges from CoinMarketCap data raised suspicions of market manipulation. This led to reduced liquidity and separated long-term investors from short-term speculators, contributing to a prolonged sideways trading phase for XRP. Optimistic predictions from Ripple regarding new banking partnerships had little significant impact on price growth.
The price history of XRP shows a complex interaction of marketing factors and manipulation. Current expectations suggest the possibility of significant growth; however, questions about transparency and the influence of external factors on the market remain.
