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 | 58.4% | 89 | $29 797.50 | 1.78% | -0.41% | $567 609 015 596 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 56.4% | 88 | $1 976.21 | 0.56% | -2.84% | $238 954 464 492 |  |
|
| 3 |  USDT |
Tether predictions | 94% | 1 | $0.998942 | -0.01% | 0% | $73 197 575 085 |  |
|
| 4 |  BNB |
Binance Coin predictions | 59.2% | 85 | $332.54 | 3.65% | 10.37% | $54 295 589 528 |  |
|
| 5 |  USDC |
USD Coin predictions | 94% | 1 | $1.000323 | 0.04% | 0.02% | $53 422 966 109 |  |
|
| 6 |  XRP |
XRP predictions | 58.4% | 91 | $0.402609 | -1.06% | -6.04% | $19 463 373 242 |  |
|
| 7 |  BUSD |
Binance USD predictions | 96% | 1 | $1.000280 | 0.05% | 0.01% | $18 311 484 205 |  |
|
| 8 |  ADA |
Cardano predictions | 59.6% | 92 | $0.518492 | 1.08% | -7.75% | $17 493 413 044 |  |
|
| 9 |  SOL |
Solana predictions | 59.2% | 92 | $49.18 | 0.18% | -9.36% | $16 686 805 636 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 56.8% | 88 | $0.083335 | 0.30% | -6.22% | $11 056 071 504 |  |
|
| 11 |  DOT |
Polkadot predictions | 57.2% | 92 | $10.05 | 2.61% | -3.60% | $9 928 054 647 |  |
|
| 12 |  WBTC |
Wrapped Bitcoin predictions | 60.4% | 89 | $29 763.34 | 1.86% | -0.45% | $8 214 769 231 |  |
|
| 13 |  AVAX |
Avalanche predictions | 59.6% | 91 | $28.63 | -0.23% | -13.98% | $7 753 109 952 |  |
|
| 14 |  TRX |
TRON predictions | 72.8% | 57 | $0.080951 | 0.80% | 12.50% | $7 660 741 401 |  |
|
| 15 |  DAI |
Dai predictions | 96% | 1 | $1.000068 | 0.05% | -0.04% | $6 575 909 240 |  |
