Rumors of Coinbase manipulating XRP's price are swirling. Are they legit, or just another crypto conspiracy theory? Let's break it down, New York style.
The crypto world's buzzing about XRP, Coinbase, and whispers of price manipulation. Did Coinbase pull a fast one, or is it just another day in the wild, wild west of crypto? Let's dive in.
Coinbase's XRP Offload: What Happened?
Word on the street is that Coinbase slashed its XRP holdings, going from holding a massive 780 million XRP to under 200 million in just weeks. That's a 69% drop since mid-2025! This caught everyone off guard and sparked some wild theories.
The Manipulation Claims: A Deep Dive
Some folks on X (formerly Twitter) like Stern Drew, suggest that Coinbase deliberately tanked XRP's price. The claim is that Coinbase routed nearly 40% of the outflows through OTC desks tied to New York institutions, conveniently timed with XRP price dips in August. According to the thread, a big chunk of the volume was unloaded during low-liquidity hours, making the sales less noticeable. Spooky, right?
Bill Morgan's Take: Not So Fast
But hold up! Pro-XRP lawyer Bill Morgan isn't buying it. He argues that XRP has always been volatile, even when Coinbase delisted it. Morgan believes XRP's price action reflects the broader crypto market, not some secret plot by Coinbase.
The Evidence: What Does It Really Say?
While data confirms Coinbase did reduce its XRP stash, no official investigation or statement confirms any manipulation. XRP's price has always been a rollercoaster, influenced by various factors like regulatory news and market sentiment.
My Two Satoshis
Okay, here's my take: The crypto world is full of drama, and sometimes, things look shady. While Coinbase's XRP moves are eyebrow-raising, it's hard to prove outright manipulation. XRP's price has always danced to its own tune. Remember, Ripple's CTO David Schwartz also dismissed manipulation claims, pointing to market forces and regulatory uncertainty as the real culprits.
Plus, let's be real, even if there were shady dealings, proving it is like finding a needle in a haystack. Regulators move slow, and crypto moves fast. Look at the odds of an XRP ETF being approved this year. Nate Geraci, president of ETF Store and NovaDius Wealth, gives it 100% odds!
The Bottom Line
So, is Coinbase manipulating XRP? The jury's still out. But one thing's for sure: the crypto world is never boring. Whether it's ETF hype, price swings, or rumors of manipulation, there's always something to keep us on our toes. So, keep your eyes peeled, do your research, and remember, even in crypto, New Yorkers always know how to hustle!
