XRP Soars Past $1.50 Amid Whale Manipulation Debate

XRP surged past $1.50 as market sentiment shifted in favor of the cryptocurrency. However, not everyone is convinced that institutional buying was behind the rally.

Levi Rietveld, founder of Crypto Crusaders, argued that MicroStrategy's recent purchase of 950 Bitcoin valued at around $80 million had a limited impact on the market. According to Rietveld, 'One $80 million buy doesn’t have the force needed to send XRP surging toward $1.50 alongside a broad market rally.'

Rietveld attributed the price action to concentrated activity from large holders, describing it as '100% whale manipulation.' He emphasized that significant wallet activity and heavy buying from large investors, often known as 'whales,' have been observed.