Altcoins Analysis

Ripple Value Explodes, Accused of Being Artificially Pumped

Gola Yashu | November 27, 2014 | 9:25 am

Ripple Value Explodes, Accused of Being Artificially Pumped

Gola Yashu | November 27, 2014 | 9:25 am

[Update: It has been found that Ripple have been experiencing a huge inbound money from companies all around the world, thanks to one of our readers. As for now, the accusation mentioning it to being artificially pumped stand nowhere.]

If the figures available at are to be believed, Ripple value went through a whopping 30% surge in between the November 26th and 27th trading session.

The sudden price explosion helped Ripple to solidify its number two position, in terms of overall market cap. At press time, the approximate gap between the Ripple and Litecoin’s market cap is $28 million. Before the spike, it was noted to be around $14 million.

The most important thing to notice here is the absence of relevant news that justifies Ripple’s skyrocketing performance. Of course, it is well-known that the majority of Ripple units – the XRP – are held by its creators which gives them certain powers to manipulate the market in whichever direction they prefer.

But without dwelling too much into conspiracy theories, there might also be a possibility that Ripple, as a money transmission protocol, is seeing greater adoption from businesses around the globe. But still, the Ripple Labs’ representatives should at least make their current status public, so as to avoid negative publicities.

Meanwhile, cryptocurrency forums are already filled with anti-Ripple posts, with majority of users accusing it to be a scam, or a heavily manipulated cryptocurrency. A Reddit user, who goes by the alias of ‘n00b-hunter’, further accused the XRP/BTC pair to have been pumped on Cryptsy. He writes:

“The reason behind all of this is because people like me who now want to sell XRP for BTC have no liquid way to do so,” he says. “Cryptsy is very cleverly blocking all XRP deposits, meaning people can only buy coins, No one can deposit and sell XRP at the moment; this seems to be pushing the prices up.”


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  • tb1981

    You’re an idiot.

    • tb1981

      Sorry, I shouldn’t of called you an idiot but asking Bitcoin investors about Ripple is like asking Samsung what they think of the iPhone… I pulled more info off xrptalk and it looks like there could be more reasons for the price increase than your average pump. They are also saying that Ripple stopped selling XRP OTC which could be adding to the volume.

      Fidor, Yantra, CBW Bank, Cross River Bank


      City National Bank, Citi, Earthport, Clearing House, CapitalOne

      • Yashu Gola

        Hello There,
        Apologies if the article somewhat hurt your trading sentiments. It was not intended at first place. But as you can see, I clearly avoided selling any conspiracy theory. What I asked for, was an official statement from Ripple Labs itself . For now, we are all just shooting in the dark..

        I am constantly visiting XRPTALK and ensure you to update this article the very moment I get something convincing.. However, if the Ripple market crashes in the next few days, we will all have our answers.

        Thank you for your kind words.

  • RPR

    cryptsy accounts for a tiny amount of overall XRP volume, so it cannot be responsible for manipulating the market, as you incorrectly speculate. check for volume data by exchange. cryptsy is a rounding error.

  • tommytrain

    Why aren’t you using ripplecharts to investigate

  • arikira

    This definitely gives me pause about adopting Ripple.

  • Robert Harpool

    Yeah….Yashu…let me tell you how to do some investigating….

    Go to RippleCharts….Click on that lined box in the top left corner….go to “Value Trends” …. pull up the capitalization of each currency for each gateway….Look at the massive deposits that have occurred…such as $200,000 new USD in SnapSwap, 40 million more Japanese Yen, 160 million more Korean Won, Do I have to continue? …. More money entering the system from gateways around the world….that money is buying XRP….

    Why? Well…a long string of good news, plus time for people to come around the learning curve and make deposits. Add to the suspension of OTC XRP….voila….

    I don’t think journalism is your cup of tea ….

    • Yashu Gola

      Hello Robert,

      Apologies for missing out. I am updating the article with the information you provided (quite brutally, eh!!) but that is all right. Readers indeed are the best teachers for any blogger, and I salute you for being one in this case. Though, please avoid making personal remarks. We are trying to have a good discussion here. Thanks once again. 🙂

      • Robert Harpool

        …Except that this is 2 different articles on 2 different sites (ForExMinute) of yours that I have had to comment on. It’s clear that you are not performing even the most basic investigation before serving as an echo chamber for disgruntled Bitcoin investors.

        A good discussion will follow … so long as it starts with a good article.

        For example…the ” it is well-known that the majority of Ripple units – the XRP – are held by its creators”. No … no they’re not. What Bitcoin discussion thread did you read this on? You need to use real sources for your information…such as Forbes, Fortune, MIT, the New York Times, etc….not a discussion forum of a site openly hostile to the subject matter.

        Or…”the Ripple Labs’ representatives should at least make their current status public, so as to avoid negative publicities”….what does this even mean? “current status” of what? Did you go to the Ripple Labs website and look at the XRP Distribution page? It’s pretty clear. Furthermore, Ripple Charts clearly shows the current status of nearly every currency and gateway….and not Crypsy … because it’s volume is too minuscule to care about and it is still ironing out integration issues as it just became a gateway a matter of weeks ago.

        … yet for some reason you use a quote from a Crypsy user to present an appearance of impropriety. In direct contradiction to “Without dwelling too much on conspiracy theories.”

  • I checked into it quite a bit, I am not a Ripple expert, but I think it is more than just a pump. Limiting OTC sales and new fiat money flowing in, and it is getting some real world adoption with some banks in the US and Europe. Bitcoin has also been a bit stagnant (will change after the auction imho) – Perhaps some might be investing in Ripple to diversify a bit from BTC? Finally, there will also be a lot of use in the future for converting all those fiat and crypto currencies, and Ripple appears to have the lead at doing just that.

  • WritersWithCats

    People just out to ruin the next big thing because they’re afraid of it.
    They should be afraid. The Ripple is going to become a wave that devours them all.

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