{"id":564745,"date":"2023-12-09T23:00:10","date_gmt":"2023-12-09T23:00:10","guid":{"rendered":"https:\/\/www.uniquehot.com\/?p=564745"},"modified":"2024-06-11T11:28:11","modified_gmt":"2024-06-11T11:28:11","slug":"xrp-price-up-today-ripple","status":"publish","type":"post","link":"https:\/\/www.uniquehot.com\/news\/ripple\/xrp-price-up-today-ripple\/","title":{"rendered":"Why Is XRP Price Up Today? Ripple\u2019s Massive Buyback May Have The Answer"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/can-xrp-price-reach-50-crypto-analyst-predicts-massive-move\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">XRP<\/span><\/a><span style=\"font-weight: 400\"> is one of the top gainers in the last 24 hours. As to why the crypto token is up, a popular crypto sleuth has some answers, as he recently revealed a significant move made by Ripple. This revelation also has the possibility of ending talks that <\/span><a href=\"https:\/\/www.uniquehot.com\/analysis\/xrp\/crypto-4400-xrp-price-27\/\"><span style=\"font-weight: 400\">XRP\u2019s price<\/span><\/a><span style=\"font-weight: 400\"> is being <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-expert-xrp-price-suppressed\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">manipulated by Ripple<\/span><\/a><span style=\"font-weight: 400\">, considering that the crypto firm has so far shown that it has XRP\u2019s best interest at heart.<\/span><\/p>\n<h2>Ripple Allegedly Buys Back Around 700 Million XRP<\/h2>\n<p><span style=\"font-weight: 400\">In a <\/span><a href=\"https:\/\/x.com\/Leerzeit\/status\/85646450?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\"> on his X (formerly Twitter) platform, crypto sleuth Mr. Huber mentioned that <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-swell-xrp-product-rebrand-new-partners\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Ripple <\/span><\/a><span style=\"font-weight: 400\">bought back around 700 million XRP from the open market. According to him, Ripple usually does this to keep the XRP markets stable and liquid. This endeavor could explain why the token\u2019s price has suddenly picked up.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.uniquehot.com\/news\/dogecoin\/dogecoin-0-1-doge-price-rally\/\">Dogecoin Above $0.1? Crypto Analyst Lists Reasons Why DOGE Price Will Continue To Rally<\/a><\/div>\n<p><span style=\"font-weight: 400\">The XRP price has underperformed in recent times, with many speculating why this could be happening. Some simply stated that the price was manipulated as there was no other logical reason to explain the underperformance, especially considering that other altcoins were enjoying significant gains.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, Mr. Huber had another plausible explanation for this decline as he stated that it could be one of Ripple\u2019s ODL customers selling their XRP tokens on the open market. It had <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-expert-xrp-price-suppressed\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">previously been reported<\/span><\/a><span style=\"font-weight: 400\"> that Ripple\u2019s XRP sales to these <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-to-launch-xrp-powered-on-demand-liquidity-solution-in-lithuania\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">ODL customers<\/span><\/a><span style=\"font-weight: 400\"> do not impact prices on exchanges. However, it does when these customers, in turn, start to sell these XRP tokens to retail investors.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Therefore, noticing the trend of the XRP sales from ODL customers, Ripple could have bought back these XRP tokens in order to stabilize the XRP price. It is worth mentioning that Mr. Huber <\/span><a href=\"https:\/\/x.com\/Leerzeit\/status\/78574398?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">seems<\/span><\/a><span style=\"font-weight: 400\"> to have reached his conclusion of a massive buyback due to the decline in XRP\u2019s circulating supply. He asserted that <\/span><a href=\"https:\/\/www.uniquehot.com\/analysis\/xrp\/number-of-xrp-that-ripple-currently-holds\/\"><span style=\"font-weight: 400\">Ripple\u2019s holdings<\/span><\/a><span style=\"font-weight: 400\"> are not calculated in the circulating supply.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/dr84JsrK\/\" alt=\"XRP price chart from Tradingview.com (Crypto analyst)\" width=\"2562\" height=\"1520\"><\/p>\n<pre style=\"text-align: center\">XRP recovers above $0.68 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">XRPUSD on Tradingview.com<\/a><\/pre>\n<h2>XRP Price Underperformance Is Concerning<\/h2>\n<p><span style=\"font-weight: 400\">Before his revelation about Ripple\u2019s massive buyback, Mr. Huber had raised concern about XRP\u2019s worrisome price action. He <\/span><a href=\"https:\/\/x.com\/Leerzeit\/status\/91215863?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">noted<\/span><\/a><span style=\"font-weight: 400\"> that the XRP price had \u201clost literally\u201d all the gains it made against the broader crypto market following <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-judge-deems-xrp-sale-non-investment-contract\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Judge Analisa Torres\u2019 ruling<\/span><\/a><span style=\"font-weight: 400\">. The Judge had ruled that the crypto token wasn\u2019t a security in itself.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.uniquehot.com\/analysis\/xrp\/xrp-price-parabolic-crypto-1000\/\">XRP Price To Go Parabolic? Crypto Analyst Confirms 1000% Golden Cross Has Returned<\/a><\/div>\n<p><span style=\"font-weight: 400\">Many had <\/span><a href=\"https:\/\/www.uniquehot.com\/analysis\/xrp\/xrp-price-61000-surge-analyst\/\"><span style=\"font-weight: 400\">predicted that this legal clarity<\/span><\/a><span style=\"font-weight: 400\"> was going to help boost XRP\u2019s price, and it actually did in the weeks after the ruling. However, the XRP price has been on a notable decline since posting those gains. It has even become concerning ever since the broader crypto market picked up as many <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-expert-xrp-price-suppressed\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">continue to wonder<\/span><\/a><span style=\"font-weight: 400\"> could be the reason for XRP\u2019s rather relatively tepid movement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, XRP is trading at around $0.69, up over 7% in the last 24 hours, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/xrp\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Watcher Guru, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>XRP is one of the top gainers in the last 24 hours. As to why the crypto token is up, a popular crypto sleuth has some answers, as he recently revealed a significant move made by Ripple. This revelation also has the possibility of ending talks that XRP\u2019s price is being manipulated by Ripple, considering that the crypto firm has so far shown that it has XRP\u2019s best interest at heart. Ripple Allegedly Buys Back Around 700 Million XRP In a post on his X (formerly Twitter) platform, crypto sleuth Mr. Huber mentioned that Ripple bought back around 700 million XRP from the open market. According to him, Ripple usually does this to keep the XRP markets stable and liquid. This endeavor could explain why the token\u2019s price has suddenly picked up.\u00a0 Related Reading: Dogecoin Above $0.1? Crypto Analyst Lists Reasons Why DOGE Price Will Continue To Rally The XRP price has underperformed in recent times, with many speculating why this could be happening. Some simply stated that the price was manipulated as there was no other logical reason to explain the underperformance, especially considering that other altcoins were enjoying significant gains.\u00a0 However, Mr. Huber had another plausible explanation for this decline as he stated that it could be one of Ripple\u2019s ODL customers selling their XRP tokens on the open market. It had previously been reported that Ripple\u2019s XRP sales to these ODL customers do not impact prices on exchanges. However, it does when these customers, in turn, start to sell these XRP tokens to retail investors.\u00a0 Therefore, noticing the trend of the XRP sales from ODL customers, Ripple could have bought back these XRP tokens in order to stabilize the XRP price. It is worth mentioning that Mr. Huber seems to have reached his conclusion of a massive buyback due to the decline in XRP\u2019s circulating supply. He asserted that Ripple\u2019s holdings are not calculated in the circulating supply.\u00a0 XRP recovers above $0.68 | Source: XRPUSD on Tradingview.com XRP Price Underperformance Is Concerning Before his revelation about Ripple\u2019s massive buyback, Mr. Huber had raised concern about XRP\u2019s worrisome price action. He noted that the XRP price had \u201clost literally\u201d all the gains it made against the broader crypto market following Judge Analisa Torres\u2019 ruling. The Judge had ruled that the crypto token wasn\u2019t a security in itself.\u00a0 Related Reading: XRP Price To Go Parabolic? Crypto Analyst Confirms 1000% Golden Cross Has Returned Many had predicted that this legal clarity was going to help boost XRP\u2019s price, and it actually did in the weeks after the ruling. However, the XRP price has been on a notable decline since posting those gains. It has even become concerning ever since the broader crypto market picked up as many continue to wonder could be the reason for XRP\u2019s rather relatively tepid movement.\u00a0 At the time of writing, XRP is trading at around $0.69, up over 7% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image from Watcher Guru, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":564750,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[167,6664,26263,14690,3680,17209,4531,83637,13172,16289,10972,78763],"class_list":["post-564745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrp-price-prediction","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n<title>Why Is XRP Price Up Today? Ripple\u2019s Massive Buyback May Have The Answer<\/title>\n<meta name=\"description\" content=\"The XRP price is one of the top gainers in the last 24 hours and a popular crypto sleuth has some answers as to why this is the case.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.uniquehot.com\/news\/ripple\/xrp-price-up-today-ripple\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Is XRP Price Up Today? 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