The recent crash in the crypto market, particularly for XRP, was triggered by fears of a trade war and economic retaliation. XRP plummeted to a new yearly low within three hours before rebounding, leading to speculation of market manipulation. An expert in order books suggested that market makers intentionally removed buy-side liquidity to cause the price drop and benefit from the recovery. Another analyst pointed out the unusual similarity in price movements across different assets, suggesting coordinated market activity. These trends were observed across multiple exchanges, except for the XRP Ledger's decentralized exchange. While similar price movements can be normal due to algorithmic trading, market manipulation and unnatural dynamics were still considered as potential factors in the crash. XRP is currently striving to recover from the losses.



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