With the recent drop in price below the critical $3 mark, heated discussions have reignited across the crypto community. Despite rallying over 27% last week and briefly reclaiming $3, the token has pulled back to around $2.86, sparking fresh speculation about market manipulation and investor behavior.
XRP: Retreat from $3
XRP surged nearly 30% last week but faced strong resistance between $3.00 and $3.02. The failed breakout triggered widespread profit-taking, cooling market momentum as spot trading volume and open interest surged to a six-month high.
* Current Price: ~$2.86 * Weekly Gain: +27% * Resistance Zone: $3.00–$3.02 * Support Levels: $2.60–$2.80
Despite the pullback, some analysts remain bullish. Peter Brandt forecasts a 60% rally toward $4.47, while Ali Martinez suggests that a weekly close above $3 could trigger a breakout toward $4.80+.
Theory of XRP Suppression
Versan Aljarrah, co-founder of Black Swan Capitalist, believes the XRP price is being deliberately suppressed by large institutions. He claimed:
> "XRP can't even stay above $3 because it threatens everything."
According to Aljarrah, XRP’s unique real-world utility—especially its ability to enable instant cross-border payments—poses a serious threat to traditional financial systems. He implies that maintaining the status quo benefits entities invested in slow, high-fee global payments, and therefore suppressing XRP becomes strategic. This suppression theory is not new. Many XRP holders have long pointed to monthly escrow unlocks, algorithmic trading patterns, and ongoing regulatory scrutiny as tactics that limit the token's price discovery.
Growing Whale Confidence
Despite the pullback, on-chain metrics point to increasing confidence among large holders.
* Whale wallets (holding over 1 million XRP) have surged to 2,743+ * These wallets collectively control over 47 billion XRP * Data shows steady accumulation during dips, hinting at strong long-term belief in XRP’s fundamentals.
The XRP community is split. Some see this dip as strategic suppression, while others argue it’s just profit-taking and resistance testing. With Crypto Week underway and macro factors in play, the stage is set for a decisive move. Until XRP clears the $3 level with conviction, expect heightened volatility and mixed sentiment. But if volume confirms a breakout, XRP could aim for $4–$6 in the near term.
