XRP News Today: XRP’s Price Drama: Market Forces or Hidden Hands at Play?

Allegations have surfaced within the crypto community suggesting that Coinbase may be manipulating the price of XRP by drastically reducing its holdings. The claims, based on on-chain data analysis, allege a 69–70% drop in Coinbase’s XRP holdings from around 780 million to 199–260 million tokens in weeks, which has coincided with price fluctuations. Critics argue this aligns with a strong 0.87 correlation between Coinbase’s sell-offs and XRP’s inability to break key resistance levels. Proponents of XRP have proposed a “XRP Suppression Index” to support these claims, suggesting deliberate price suppression.

However, these allegations remain unverified by regulatory authorities or legal bodies. A legal analysis by Bill Morgan, a pro-XRP attorney, challenges the manipulation theory, noting that XRP’s price behavior appears consistent with historical trends, including periods when Coinbase was not actively trading XRP. Morgan argues that the data does not demonstrate intent or coordination, and that such sales are common in crypto markets. He emphasizes that XRP’s price movements align with broader market dynamics, including regulatory battles and institutional flows.

Ripple, the company behind XRP, has also addressed the allegations. Ripple CTO David Schwartz dismissed the manipulation claims, asserting that market forces and regulatory uncertainty are the primary drivers of XRP’s price. This perspective aligns with broader market analyses, which highlight the influence of macroeconomic factors and institutional activity on XRP’s performance. For instance, the token’s price remains below $3, with traders watching for a potential breakout above $3.10 to confirm bullish sentiment.

Coinbase’s reduction in XRP holdings has also been linked to broader institutional activity. Data from XRPScan indicates that Coinbase’s holdings have decreased alongside those of other major exchanges like Upbit and Uphold. This trend has led to speculation about the involvement of institutional players, particularly BlackRock, in absorbing XRP through its recent collaboration with Coinbase. XRPwallets, a social media commentator, suggested that these movements could be part of larger liquidity management strategies rather than coordinated price manipulation.

From a market perspective, XRP’s recent volatility has been influenced by both on-chain activity and broader market conditions. Analysts have noted that reduced exchange balances can signal lower sell pressure, potentially supporting price stability. At press time, XRP is trading around $2.81, consolidating after recent rebounds. Technical indicators such as the RSI and MACD suggest the possibility of a bullish breakout if support levels are maintained. Institutional activity, including whale accumulation of 340 million XRP (~$960 million) over two weeks, has also contributed to mixed market signals.

Despite ongoing speculation, no formal investigations or enforcement actions have been initiated against Coinbase regarding XRP manipulation. The lack of concrete evidence and the absence of regulatory findings underscore the difficulty of proving intent or coordination in decentralized markets. While XRP enthusiasts and critics continue to debate the implications of Coinbase’s actions, the broader market remains influenced by macroeconomic trends, institutional flows, and regulatory developments.

Source:

[1] Coinbase XRP Reduction Fuels Rumors, Lawyer Says Price Stable (https://cryptorank.io/news/feed/ccb82-coinbase-xrp-reduction-fuels-rumors-lawyer-says-price-stable)

[2] Coinbase Wallet Shows Massive XRP Cuts, What's Going ... (https://www.mitrade.com/insights/news/live-news/article-3-1093485-20250904)

[3] Fact Check: Is Coinbase Manipulating the XRP Price? (https://cryptorank.io/news/feed/8b299-fact-check-is-coinbase-manipulating-the-xrp-price)

[4] xrp, ripple cost usd, xrp price usd (https://www.coinbase.com/en-gb/price/xrp)