XRP’s price spike has nothing to do with utility – this is just a price manipulation

Even though there is some prestige in being ranked second, rather than third on the rankings of crypto market data trackers, there is no real advantage to it. It is a vanity metric.

If you peak into Ethereum’s and XRP’s communities, you will meet different sets of mood dominating in the camps. Ethereum holders try to play it down as irrelevant although you can sense their frustration for losing “spot number 2” while Ripple guys are glowing and poking jokes at the dapp platform.

But is there any substance behind the XRP jump in price?

Not really, it appears to be a classic price manipulation, a very common in crypto world. Utility driven spikes, because of strong fundamentals, big news about adoption or something similar is the only valid reason for a price jump. Anything else is just some version of a pump and dump – when you go up for no apparent reason, you will dive down again out of the blue.

The trick is figuring out when it will sell off and what the peak will be. You would need a crystal ball for that so good luck.

Will XRP Maintain the Number 2 Spot?

From an optimistic point of view, the rise of XRP to the number 2 spot can be classified as permanent for the foreseeable future. Ethereum (ETH) has been facing a lot of FUD in the past few weeks that were accelerated by the fake news of Goldman Sachs delaying the launch of a Bitcoin and crypto trading desk.

However, this extreme bullish behaviour is unlikely to sustain throughout the week and we are likely to witness a heavy crash once panic selling starts to overpower FOMO buyers. What will be interesting to see is whether Ripple will manage to hold on to its new podium position once the smoke clears, or whether Ethereum will return to the top 2.

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Torsten Hartmann
Torsten Hartmann

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

  1. Totally agree with you ! If you look at the stochastic the tempo is too good to be true 😉

  2. Garbage article, Ripple is a company built on strong fundamentals. Xrp their Cryptocurrency is beginning to reflect their leading ability in this space. Etherium on the other hand is floundering hoping their new update will save them after the crushing defeat of the last failed attempt.

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