In the cryptocurrency market, allegations against Binance intentionally creating selling pressure on XRP have surfaced. Experts highlighted that these speculations significantly impacted the recent decline in XRP’s price. Despite losing value over the past week, XRP showed some recovery in the last 24 hours.
Controversy Surrounding Binance’s Role in XRP’s Market
Cryptocurrency expert Pumpius claimed via social media that Binance deliberately aimed to suppress XRP’s rise by inducing selling pressure. According to Pumpius, the exchange creates liquidity drains targeting individual investors to maintain its market-making strategies. It’s asserted that the waves of increased sales following positive developments for Ripple 
$1 were not coincidental but orchestrated moves.
Analyst Pepesso also reported that Binance recently sold over $1.5 billion worth of Ethereum 
$2,287. The transactions were alleged to have been conducted through Wintermute. Pepesso noted similar instances occurring in the Solana 
$84 market, stating these sales create an impression of organic pressure among investors. During this process, leveraged investors were collectively liquidated, allowing exchanges to earn additional revenue.
Latest Developments in XRP’s Price
XRP has depreciated by 4% over the past week, diverging from the overall market recovery. However, it increased by 1.94% in the last 24 hours, reaching $2.80. The Crypto Fear and Greed Index shifted from last month’s “greed” level to a “neutral” zone. According to blockchain data, the number of active addresses fell from around 45,000 in mid-July to approximately 20,000 today.
Moreover, reports indicate that large investors have been buying up XRP. Approximately 340 million coins were added to whale-level wallets over the past two weeks. Additionally, Chinese supply chain company Linklogis started using the XRP Ledger to support its global finance platform. This development signals growth in the Ripple ecosystem within Asia.
