XRP sparked a heated debate in the crypto community when a large holder of the token claimed that there was a pattern of repeated manipulation in the market.
An individual known as Arthur claimed that the price of XRP often showed the same pattern, rising a few hours before the US market opened, but falling again as soon as the trading session began.
Based on the chart he shared, the situation allegedly occurred at least 9 times since February and continued until March.
According to Arthur, the consistency of the pattern is difficult to consider as a coincidence.
In fact, he attributed the possibility of the strategy to the famous quantitative trading firm, Jane Street, which is often associated with algorithmic trading strategies.
Arthur believes that the price surge before the market opens may be intended to attract buyers, before selling pressure appears as market liquidity increases.
The claim is made all the more interesting because it occurs at a time when the company behind XRP, Ripple, is actually enjoying positive developments including high-value acquisitions and inflows of ETF-related funds.
However, XRP price is still around 40% below its recent high, with every attempt to break through resistance often ending in a retracement.
However, not everyone in the community agrees with the manipulation theory.
Some traders argue that such moves are normal as US market liquidity begins to flow in, with many investors taking profits after the initial rally.
