Despite Regulatory News and Economic Uncertainties, the Cryptocurrency Market Has Once Again Defied Expectations

Despite regulatory news and economic uncertainties, several major digital assets, including XRP, Bitcoin, and Ethereum, have recorded impressive gains over the last 24 hours.

The cryptocurrency market has once again defied expectations, with several major digital assets like XRP, Bitcoin, and Ethereum reporting impressive gains over the last 24 hours despite pending regulatory news and economic uncertainties.

However, not everyone is celebrating this development, as a growing number of traders are calling foul, hinting that the market remains heavily manipulated.

At the center of the storm is XRP, which soared by over 8%, touching $2.35 as several traders highlighted abnormal volume patterns and identified a classic bot-driven pump.

“Despite the latest major news of SEC v Ripple settlement, this sham of a market is still being manipulated,” said Vincent Van Code.

“The rejection of the GENIUS Act should have sent the crypto market down, yet it's gone up likely due to bots pulling liquidity out of XRP taking advantage of different exchange rates and WTI futures gaps to create the impression of a market recovery.”

Despite the latest major news of SEC v Ripple settlement, this sham of a market is still being manipulated.

The rejection of the GENIUS Act should have sent the crypto market down, yet it's gone up likely due to bots pulling liquidity out of XRP taking advantage of different…

— Vincent Van Code (@Vincent__Code) August 2, 宵