Coinbase Holders Accused of Manipulating XRP Price with Buy Walls

An analyst has accused large Coinbase-linked holders of pinning XRP's price by placing opposing buy and sell walls on both sides of the market, implying centralized influence and potential manipulation risk for the token.

XRP hovered around $1.51 after a rally that more than doubled the token from its early-August low, raising concerns about sustainable price discovery and market impact for crypto investors and exchanges.

The analyst's thesis landed as XRP held a tight range near $1.51, which is where it has been hovering since the rally.