Market Manipulation? Ripple Reportedly Swapping XRP for BTC Amidst Surging Prices – What's the Truth?

Amid discussions regarding XRP's recent performance, a prominent crypto investigator, known as "Mr. Huber," has reignited allegations against Ripple. Huber suggests that Ripple routinely converts XRP into Bitcoin, particularly during significant market upswings for BTC.

Huber points to rising supplies in BTC, ETH, ADA, and SOL, spurring debates against XRP's status

Huber pointed out the notable increase in supply for other cryptocurrencies like Bitcoin, Ethereum, Cardano, and Solana, in contrast to XRP. This observation sparked discussions on Ripple's alleged activities during market fluctuations.

Cappello's chart shows that since July, XRP has fallen against BTC, possibly due to Ripple increasing its holdings of BTC

Franco Cappello shared a graph illustrating XRP's declining performance against Bitcoin since July 2023. Cappello speculated that Ripple had been accumulating Bitcoin during this period, contributing to XRP's underperformance against dominant cryptocurrencies.

Cappello Explains Ripple's Strategic Decision to Convert XRP to BTC

Cappello argued that Ripple's strategic decision to exchange XRP for Bitcoin was logical, given the anticipation of Bitcoin's market impact following ETF approvals. When pressed for concrete evidence, Cappello cited common sense as his rationale.

Huber Backs Cappello: Ripple's Diverse Crypto Holdings Critical for Liquidity Business

Huber supported Cappello's claims, emphasizing Ripple's position in the liquidity business, which necessitates holdings in various cryptocurrencies. He highlighted XRP as the most liquid asset, crucial for Ripple's On-Demand Liquidity service.

Huber Discusses Ripple's Cycle of Exchanging XRP for Building Price Momentum

Huber asserted that Ripple follows a cyclical pattern, exchanging XRP for other assets whenever XRP liquidity experiences significant reductions. This process aims to build price momentum for XRP, according to Huber.

Huber on Ripple Activity Speculations: Market Observations as Basis for Inference

Huber acknowledged that these claims are speculative and could be perceived as conspiracies. However, he maintained that it is reasonable to deduce Ripple's activities based on market observations.