Certainly profitable for those traders, but it will leave innocent investors confused. And some memes are telling you DOGE is the first coin on the moon. Prior to the announcement of the pump attempt, the price hovered around $0.30, but by January 30th it had already risen to almost $0.50. Although the pump is planned at 13:30 GMT, the … Now, one month later, we see this pump in XRP, driven by the Reddit trading community. The coordinated attack came following a similar move by Reddit members on the GameStop stock, pushing the stock to a new all-time high in the process. Ripple’s XRP has crashed following its temporary ascent to $0.74 yesterday. XRP price shows a substantial uptick per a Telegram group's plan to pump the cryptocurrency on February 1. All of this helps illustrate the danger associated with getting investment advice from social media — with Reddit groups such as r/WallStreetBets popularized as a result of the GameStop short squeeze. These groups decide a specific time for the pump, and mention the coin when the pump starts. Following the surge, it is clear that after manipulating the prices of GameStop and Dogecoin the forum has targeted XRP. Many believe the Ripple lawsuit will be settled well before and the XRP trading may resume in the US very soon. Long Term, all this really achieves is making XRP look like pump and dump garbage for long term holders. A Telegram group is pumping XRP. The pump on Telegram could have been inspired by the Reddit forum behind the GameStop shares saga. Without the political motive of the GME pump, people front ran the buying event. The goal was to suddenly and artificially drive up the price of XRP by buying en masse all at the same time, 8:30 AM Eastern Standard Time (New York time). XRP closed the weekend with a price rebound that sent it to new levels that were last seen in December of 2020. The price of Ripple’s XRP coin is up almost 50% on Monday alone, which is bullish for a coin set for an SEC lawsuit. More importantly, it might seduce crypto investors into entering XRP (again), as they might mix up this price pump with a price rally driven by fundamentals. Investors Pump $250M Into Reddit Following Social Media Site’s Role in GameStop Mania. And non mem power with Elon Musk like Doge. Groups on Telegram, Reddit and other platforms, are being formed, attracting thousands of members. There is no great crusade is squeezing out Hedge funds here. The frenzy about pumping small stocks began with GameStop when a Reddit group shot squeezed the GME stock to rise above $450. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. Source: Adobe/valeriya. Many beginner investors and traders believe that these pump and dump schemes will function properly, but they enter the trade late and suffer huge losses. XRP is the fastest and most scalable digital asset today. Traders need to be wary of these co-ordinated actions as they could get caught up in pump and dump schemes. This time, however, many came from enthusiast groups on Reddit and Telegram… Telegram Pumps XRP Price Predictions This mania later spread to dogecoin and XRP, both of which saw massive price run-ups. The group goes by the name “Buy and Hold XRP” and was created on January 29. On January 30, the XRP price rallied 86% as members of the now-infamous Reddit-based investing group shifted their attention from Dogecoin. XRP’s pump preceded by a rise. The rally sent the cryptocurrency up by 56%, causing prices to skyrocket from $0.2605 to a high of $0.50944. Its just all for the money. XRP Price Index. In their publications, they have denied being a group to “pump and dump” XRP. Just like that, a new wave of XRP price predictions emerged. Ripple is again on the focus of the cryptocurrency group after a gaggle of Redditors liable for pumping failed shares of GameStop and AMC Firms select to orchestrate the identical shopping for frenzy for the blockchain agency’s native token XRP. Many in the crypto-verse raised suspicion about possible news with no other reason in sight for the pump. Reddit Targets XRP, Cryptocurrency Jumps 100% | Finance Magnates financemagnates.com - 7698. On Twitter, Reddit, and in two Telegram groups (with more than 300,000 combined members), the idea was put forward to buy XRP at exactly 13:30 CET on Feb. 1. Yesterday, after a brief descent to below $0.40, the XRP rose to almost $0.50. XRP rallies more than 50% after a Telegram group pumps the token . XRP jumped above $0.58 for the first time since 17 December 2020 after the Reddit-based XRP Pump discussions increased significantly during the last few days. XRP Price Analysis. Today, in fact, at 14.30 Italian time, the group is organized for bulk buy XRP and thus make the price skyrocket. At the time of publication, XRP plunged to $0.40 after several pump groups pushed it to over $0.70. Source: CoinMarketCap (XRP week chart) XRP is now having the attention of Reddit forums It seems like XRP pumpers are hoping for additional upwards action, while Cardano (ADA) founder Charles Hoskinson, chimed in on the rising pump and dump issue across the crypto space, warning that those joining these scams will end up losing a lot of money.. XRP is now trading as the third most valuable cryptocurrency in the world, along with the $26 billion worth […] As reported by CNF, XRP began its rally yesterday. A Telegram group planned to pump the price of XRP today, but the move was expected at 13:30 GMT. For all those who have HODLed this in the past and have taken profits. XRP has experienced some impressive price volatility lately. The Reddit group WallStreetBets, after deciding to raise the value of the shares of GameStop (GME) and the price of the crypto Dogecoin (DUKE), now it seems he has decided to pick up Ripple (XRP). XRP jumped above $0.58 for the first time since 17 December 2020 after the Reddit-based XRP Pump discussions increased significantly during the last … The after-effects of the WallStreetBets pump is crossing over to the crypto market, where Dogecoin (DOGE) and Tron (TRX) have seemingly benefited from the pump. XRP Rallies 86% after Reddit Forum ‘Wall Street Bets’ Says ‘pump it’ In the early hours of January 30, cryptocurrency XRP made a bullish breakout and rallied 86% as it became the subject of talk in the reddit forum r/Satoshistreetbets, which is a crypto centered sub-directory of r/Wallstreetbets. However, the pump only lasted for a few days, with XRP briefly reaching the $0.75 mark before losing momentum and crashing down. (Photo by S3studio/Getty Images) 2018 S3studio. On the other hand, it’s presumed that XRP was also pump-and-dump material the last days. Elsewhere on crypto markets Congrats to DOGE Well as many of you can remember it is just a few days since DOGE pumped to a new ATH. After weeks of consolidating below the $0.30 level following the SEC lawsuit, XRP surged over the weekend thanks to a coordinated buying attack orchestrated by a Telegram group called “Buy & Hold XRP FEB 1st, 2021.”. Apparently, several groups in Telegram and Reddit coordinated its thousands of members to buy the coin the last week and hold it till the beginning of February. TRON (TRX) rose quite similar to XRP yesterday owing to the similar pump owing to another Telegram group. The price pump has also been assisted by the same Reddit traders grouped that shilled GameStop stock and Dogecoin late last week. Over the last few hours, the price of XRP touched $ 0,75, and then dropped to $ 0,39. XRP Price experienced a planned pump at the beginning of this month that rallied the price close to $0.8. Perhaps inspired by the events of the past few weeks where a Reddit forum – WallStreetBets – pumped GameStop shares and other stocks, a Telegram channel is doing the same to XRP. It began with this: “PUMP XRP Feb 1 st, 2021 @8.30 AM EST.” In the darkest corners of Crypto Twitter, on the r/WallStreetBets Reddit page, across a myriad of Telegram chats and in Discord messaging rooms, thousands of inexperienced investors were being sold a promise: buy at this time and riches will follow. Within hours of pump, the price fell drastically shedding all the profits profusely below $0.35 marks. A Reddit post entitled “Why the pump WILL work on Monday” has now been taken down by moderators of the r/Ripple page — with some commenters lamenting they have lost money. Dogecoin and XRP have surged this week as retail traders organized via Reddit's WallStreetBets forum and groups on Telegram and Discord have colluded to "pump … It happened after the increase of discussions for Reddit-based XRP Pump from the last few days. XRP is now the third most valuable cryptocurrency in the world with a market cap of more than $26 billion. The final 4 days have witnessed the XRP/USD alternate fee leap from $0.23 to as […] They might pump before and then dump around that time. Reasons behind XRP’s rally. On the contrary, they claim to be a community-led group, crated to spread awareness about the benefits and features of the XRP Ledger. The price took a strike in just some days after a significant Reddit based XRP Pump discussion. The XRP price rose from around $0.25 to a brief high above $0.70 between Jan. 28 and Feb. 1. XRP has managed to make its jump above the mark of $0.58 for the first time after December of 2020. The XRP (Ripple) price pump, scheduled for today at 8:30 AM EST, failed. r/Ripple: Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. XRP and DOGE are still the top two best-performing assets on crypto markets over the past 24 hours. What is happening. It looks like, history was a lesson again, and XRP repeated the path of recently pumped DOGE and tron (TRX).TRX got some attention in the r/wallstreetbets subreddit, with 7.7m users, responsible for the GameStop (GME) pump last month, after Tron's Justin Sun pledged to spend USD 1m on GME shares.. Today, DOGE is down almost 50% since its all-time high reached on January 29. The XRP token rose more than 50% today and reached a high of nearly $0.5. In the style of the r/WallStreetBets Reddit group, a group of XRP investors decided to band together to push the price of XRP.