XRP’s past price movements suggest developments far beyond ordinary market dynamics. In a recent podcast, analyst Jesse highlighted the altcoin‘s astonishing leap from $0.15 to over $3 in late 2017, in just two weeks, stunning the entire market. The sudden exclusion of top-volume Asian exchanges by CoinMarketCap during the same period abruptly lowered the visible price, triggering widespread sell-offs. Since then, XRP has not revisited such highs, igniting debates about deliberate price suppression.
Behind the Scenes of the 2017 XRP Rally
At the start of 2017, XRP was trading below one cent, yet within eight months, it surged over 800-fold to surpass $3. This remarkable ascent was unprecedented in the crypto world at that time. At its zenith, without warning, CoinMarketCap delisted several Asian exchanges, mechanically reducing the altcoin’s average price. This unexpected move led many investors to assume the rally had ended, prompting a wave of selling and reversing the price momentum.
Those exchanges accounted for a significant portion of XRP transactions at the time. The unilateral removal of this data, due to a lack of transparency, spawned allegations of manipulation. As prices fell, liquidity tightened, differentiating long-term investors from short-term speculators, and consequently, the altcoin entered a prolonged sideways trading phase.
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$1 CEO Brad Garlinghouse‘s 2018 assertion of weekly new bank partnerships, Ripple’s official website still states “over 300 banks,” unaltered, undermining the credibility of the company’s and altcoin’s expansion claims. For years, news of new collaborations has had limited impact on prices, prompting investors to speculate that XRP’s true value is concealed.
Current Expectations for the Altcoin
Blockchain analysis firm Glassnode’s realized profit data signals a prolonged accumulation phase for XRP and hints at price suppression. Experts suggest that the clarification of the regulatory framework and the potential approval of a spot ETF this year could create a bowstring-like tension for XRP. This raises expectations that the price will soar sharply in the short term, much like a released arrow.
