Can anybody explain why XRP is pumping?

[thecodebear]

XRP's pump seems to be at odds with reality. It's like the ultimate shitcoin (well, in competition with BCH and BSV for that title), and its in the middle of an SEC battle. The sub-20 cent prices it hit a few months ago made sense. There is no fundamental reason xrp should be a top coin or even in the top 100, and yet it is hardcore pumping this week to over $1.

Is this just cuz the xrp army or whatever they call themselves are full on tribalism and are doubling down, or perhaps better described as "dumbing down", due to thinking their "tribe" is being attacked? Cuz I mean xrp serves no purpose, the company itself operates for the purpose of bank payments, not user payments, the cryptocurrency is entirely centralized and controlled by Ripple and some banking nodes, the company I think still owns the majority of the tokens and the founders themselves alone own a significant amount of the tokens, the sale of xrp was clearly for fundraising for the company which makes it a security which is what is going on with the SEC law suit, as far as I'm aware banks that use Ripple don't even need to use xrp for settlement as Ripple has other means of settlement for banks, and its pretty obvious that later this decade when countries switch to CBDCs there will be no use case for Ripple as a business. Oh and let's not forget there are plenty of other coins these days that can do as many transactions so the high throughput is a moot point now.

Looking for serious answers. I wouldn't touch XRP if my life depended on it so it has always confused me why some people are so obsessed with it when it clearly will not ever be used for payments or replace bitcoin or be decentralized or be the thing that all banks use or any of the things xrp fans say it will do. I mean granted it is still less than a third of its peak price from three years ago even though it is all pumped up now, so that makes sense, but why are people pumping this coin to a dollar when a few months ago it was on a natural and well deserved trend back to single cents? Is it just like a super pump and dump coin, people just like to use it for trading? I mean anyone who has had it since its peak a few years ago would have been much better off buying lots and lots and lots of other cryptos, hell they'd be much better off just holding fiat. What's the point of holding onto and pumping an obvious shitcoin that now has serious legal troubles?

[Dollar_Hunter]

I will just explain the points, we already know that XRP is already at the bottom and in TA also XRP is one of the big cap coins that are undervalued this season, and their CEO also promised to win from the SEC, there is more news that coinbase will start trading XRP again, yup, these are the points where XRP can fly as it is today.

[tbct_mt2]

News we received on the media or reports from agencies are tips of iceberg. They are not real reasons of price falls or rises.

XRP has weeks of falls since November 2020 and it is a time for Ripple to rise back. It is a perfect period for it as after the cool from hot DeFi growth, top and old altcoins have their turns to rise on the market. Bitcoin Cash, Bitcoin Gold and other old altcoins have been loaded for the coming flights.

[asriloni]

I will just explain the points, we already know that XRP is already at the bottom and in TA also XRP is one of the big cap coins that are undervalued this season, and their CEO also promised to win from the SEC, there is more news that coinbase will start trading XRP again, yup, these are the points where XRP can fly as it is today.

I will now trust any words that were coming from the ripple CEO and it's totally buzzword. There are lots of story CEO of RIPPLE is always shilling for its company.
We know that if ripple will be dead and ripple CEO can't dump his premined coin to the market.

This is only a pump and dump coin. I never heard that coinbase was announcing it before and it's probably a rumour that created by CEO of RIPPLE.

There are lots of buzzwords these days and rumours around XRP

[unusualfacts30]

from what I understand this was from sec hearing that happened with xrp and I am certain that was the cause of the pump.  It fell back a lot in previous months after it got delisted. so be careful. it pumped by almost 100% within few days so you might see some correction period.

[Ararbermas]

from what I understand this was from sec hearing that happened with xrp and I am certain that was the cause of the pump.  It fell back a lot in previous months after it got delisted. so be careful. it pumped by almost 100% within few days so you might see some correction period.

I have an investment on XRP since last month and yes..as it keeps pumping i saw some correction in the graph but seems a normal scenario in my opinion .  And you said it was delisted few months ago? Well sorry but I don't know about that issue... All i can say is no one can stop the growth rate right now as the alts season is starting.. If you wanna see the history of growth rate since day one perhaps you'll agree.. Indeed few days ago it was #5 in CMC but now its now #4..

[Zeque02]

As I far as I know about XRP is one of known crypto currency but somehow doesn't so support by many in crypto community. Now it's value is pumping and I believe it's just started due to the support of many in crypto but I don't think it will take too long. Hopefully, the correction of its value as believe by many will be corrected and it gonna be a profitable for all of us here having some XRP coins.

[Scripture]

from what I understand this was from sec hearing that happened with xrp and I am certain that was the cause of the pump.  It fell back a lot in previous months after it got delisted. so be careful. it pumped by almost 100% within few days so you might see some correction period.

As per the news the court granted XRP to access the documents of SEC for their reference and of course for the purpose of counter evidence and this has been the best result so far with the SEC vs XRP case. I have to agree that this is still just a temporary pump and I saw a lot of people on social media being trapped on top again with XRP, corrections will always happen and with the pending case of XRP, anything can happen so be careful.

[MishaSER]

So I found information about relist on the top exchanges Coinbase and Binance. Although I do not understand why they talk about Binance if it is already traded on the exchange. https://coingape.com/will-coinbase-and-binance-relist-xrp-why-xrp-price-is-surging/

[Pom_bensin]

from what I understand this was from sec hearing that happened with xrp and I am certain that was the cause of the pump.  It fell back a lot in previous months after it got delisted. so be careful. it pumped by almost 100% within few days so you might see some correction period.

correction is more accurately associated with xrp when the price increases or decreases. because there are many issues that say the negative side of ripple only makes ripple worse. This is purely a correction I agree with, and Ripple will still be on its natural path in crypto to go up and down on a price basis all the time

[leea-1334]

Shitcoin or not,,, they have proven time and again they have a unique ability to pump and I guess for many experienced speculators,,, this is the perfect coin. Buy when they are down and in trouble, sell when everything seems rosy. I still cannot believe it actually is at $1 today when there is super nothing to do with this coin. Who on earth uses it and yet is willing to pay this price for it?

Dumbing down XRP.

[South Park]

Shitcoin or not,,, they have proven time and again they have a unique ability to pump and I guess for many experienced speculators,,, this is the perfect coin. Buy when they are down and in trouble, sell when everything seems rosy. I still cannot believe it actually is at $1 today when there is super nothing to do with this coin. Who on earth uses it and yet is willing to pay this price for it?

Dumbing down XRP.

I think there is a lot of people that are surprised by the performance that we are seeing in ripple at the moment, people are trying to figure out why this coin that seemingly no one cares about was able to go up in value so quickly, and to be honest I don't really find a reason for it but for traders that doesn't matter, what matters is that the coin was going up and if they were clever they obtained some good gains out of this exercise.

[ScamViruS]

~~~

I think there is a lot of people that are surprised by the performance that we are seeing in ripple at the moment, people are trying to figure out why this coin that seemingly no one cares about was able to go up in value so quickly, and to be honest I don't really find a reason for it but for traders that doesn't matter, what matters is that the coin was going up and if they were clever they obtained some good gains out of this exercise.

For Xrp's pump and dump, no reason is needed. When the bad news about xrp came out and there was a lot of panic in the market, the market price of xrp kept on falling. But many big investors have taken that opportunity to accumulate xrp from retail traders.
Since the big investors have accumulated huge amount of xrp from the panic sellers they have pumped the market to their liking. So there may be no reason behind the current pump of xrp.

[McWorse]

Shitcoin or not,,, they have proven time and again they have a unique ability to pump and I guess for many experienced speculators,,, this is the perfect coin. Buy when they are down and in trouble, sell when everything seems rosy. I still cannot believe it actually is at $1 today when there is super nothing to do with this coin. Who on earth uses it and yet is willing to pay this price for it?

Dumbing down XRP.

I use it every time, when I transfer value between different exchanges or with friends. Because it is fast like hell and the fees are a joke. Of course, XRP has a few criticisms. But price, missing use cases and the dumb killing argument "shitcoin!" are none.

[blockman]

This could be the news why it has pumped.
(https://finance.yahoo.com/news/ripple-granted-access-sec-documents-035545476.html)
(https://financefeeds.com/game-over-ripple-granted-access-to-sec-internal-discussions/)
While the market looks red, it's still at a good price of $0.9 and many have got enough profit if they've bought it half of its price since the lawsuit news started.

[Quidat]

Shitcoin or not,,, they have proven time and again they have a unique ability to pump and I guess for many experienced speculators,,, this is the perfect coin. Buy when they are down and in trouble, sell when everything seems rosy. I still cannot believe it actually is at $1 today when there is super nothing to do with this coin. Who on earth uses it and yet is willing to pay this price for it?

Dumbing down XRP.

I use it every time, when I transfer value between different exchanges or with friends. Because it is fast like hell and the fees are a joke. Of course, XRP has a few criticisms. But price, missing use cases and the dumb killing argument "shitcoin!" are none.

Cant deny about those criticisms that until now where XRP is really having specially they do say that this is a centralized coin and a shit one but when it comes to
utility then there's no doubt that this one of the best coin that you can used of when it comes to less fees and transaction duration which is really best.
Sometime i do make use of xrp when playing gambling too which is similar on using trx or ltc, depends into my mood.
For the question on why its pumping? Links had already given above.

[jacafbiz]

The team is making head way with their case against SEC, I believe XRP will end up coming out like a new born baby because the team is taking the right step and employing the right set of lawyers and advisors to help with their case, I believe if SEC called Ethereum no security, XRP will come out unscratched

[Gozie51]

from what I understand this was from sec hearing that happened with xrp and I am certain that was the cause of the pump.  It fell back a lot in previous months after it got delisted. so be careful. it pumped by almost 100% within few days so you might see some correction period.

Yes I read it on this thread here and Op got the link there
https://bitcointalk.org/index.php?topic=5328979.msg56730778#msg56730778

It is a risky investment now as you can't be sure where price can head off to. The lawsuit is on and the ripple team seem to have upper hand in handling the case

[Cherylstar86]

The team is making head way with their case against SEC, I believe XRP will end up coming out like a new born baby because the team is taking the right step and employing the right set of lawyers and advisors to help with their case, I believe if SEC called Ethereum no security, XRP will come out unscratched

On that matter, I think there's no further serious accusations against xrp because this coin remains strong and supported by wealthy investors. The news coming out for xrp has nothing to do negatively, so basically holders never turn their backs but rather keeping a strong faith on this coin. Reputation still remain intact and if price will go down most probably it's due to top market influence from btc and eth.

[leea-1334]

I think there is a lot of people that are surprised by the performance that we are seeing in ripple at the moment, people are trying to figure out why this coin that seemingly no one cares about was able to go up in value so quickly, and to be honest I don't really find a reason for it but for traders that doesn't matter, what matters is that the coin was going up and if they were clever they obtained some good gains out of this exercise.

Yes,,, like we were saying above, we ourselves are taken aback by a coin that can pump so hard to $1 with nothing at all to back it up. We are talking about a coin that only managed 70 cents when there was nothing but good news. And now after all the 2021 problems even it can pump. This is to me clearly the most manipulated alt.