XRP Pump Fails to Materialize as Price Crashes 40% From Day's High
XRP has crashed hard from a two-month high reached early Monday, with a planned community buying effort failing to yield desired results. The cryptocurrency is trading near $0.42 at time of writing – down 40% from the high of $0.75 reached at around 11:10 UTC, according to CoinDesk 20 data.
A coordinated buying effort by some 200,000 members of the two-day-old Telegram group called “Buy & Hold XRP” at 08:30 a.m. ET was supposed to push the cryptocurrency to higher resistance levels. Instead, XRP pulled back from $0.75 to $0.60 ahead of the crowd buying and extended losses to $0.40 after 08:30 a.m. ET.
The cryptocurrency almost doubled in value over the weekend and clocked a two-month high earlier today. The price action suggests some traders bought XRP in anticipation of a price pump, inadvertently pushing it higher. Some of them may now be trapped on the wrong side of the market.
At press time, the exact reason for the price dump is not known. It’s quite possible that a whale (large investor) took advantage of the price rise and dumped his holdings. Pump and dump strategies are not new to crypto markets, particularly for XRP.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 74.4% | 48 | $49 653.41 | -1.04% | -11.92% | $938 231 285 210 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 77.2% | 39 | $4 371.46 | 1.74% | -2.81% | $518 726 908 591 |  |
|
| 3 |  BNB |
Binance Coin predictions | 78.4% | 35 | $602.61 | 6.15% | -1.70% | $100 516 630 091 |  |
|
| 4 |  USDT |
Tether predictions | 93.6% | 1 | $1.001029 | 0.01% | 0.07% | $76 404 874 493 |  |
|
| 5 |  SOL |
Solana predictions | 70% | 61 | $189.68 | 1.51% | -15.46% | $58 298 771 519 |  |
|
| 6 |  ADA |
Cardano predictions | 65.2% | 77 | $1.37 | 1.42% | -10.77% | $45 766 334 793 |  |
|
| 7 |  USDC |
USD Coin predictions | 92.4% | 2 | $1.001815 | 0.22% | 0.32% | $41 115 117 851 |  |
|
| 8 |  XRP |
XRP predictions | 68.8% | 65 | $0.847842 | 5.03% | -12.53% | $40 058 264 442 |  |
|
| 9 |  LUNA |
Terra predictions | 64% | 75 | $75.43 | 12.62% | 19.06% | $28 728 578 546 |  |
|
| 10 |  DOT |
Polkadot predictions | 68.4% | 70 | $28.89 | 0.14% | -17.80% | $28 535 305 964 |  |
|
| 11 |  DOGE |
Dogecoin predictions | 66.4% | 65 | $0.177346 | 0.37% | -13.13% | $23 487 786 636 |  |
|
| 12 |  AVAX |
Avalanche predictions | 63.6% | 77 | $94.12 | 7.54% | -19.09% | $22 852 451 871 |  |
|
| 13 |  SHIB |
SHIBA INU predictions | 62.4% | 79 | $0.000036 | 0.19% | -13.18% | $20 008 775 732 |  |
|
| 14 |  MATIC |
Polygon predictions | 63.2% | 70 | $2.34 | 4.62% | 13.05% | $16 582 834 795 |  |
|
| 15 |  CRO |
Crypto.com Chain predictions | 65.2% | 78 | $0.607936 | -0.59% | -14.02% | $15 358 289 057 |  |
