Jesse, a crypto commentator and analyst from Apex Crypto Insights, has suggested that XRP’s price is intentionally being suppressed. He observed a pattern of sharp rallies followed by quick reversals, indicating deliberate manipulation. “You saw XRP surge and then suddenly plummet,” Jesse noted. “To me, it seems like they are keeping the price down.”
In a recent video, Jesse mentioned that he no longer believes the suppression is aimed at preventing retail investors from profiting. Instead, he theorizes that the price is being controlled because the entities behind it are not yet ready to allow it to rise freely.
Last week, XRP experienced a significant 45% surge, reaching as high as $1.66 before retracting. Despite expectations from many XRP supporters for the price to reach $2, it has since dropped back below $1.40.
Connecting the Theory to a Historical Economic Issue
Jesse drew parallels between his observations and the Triffin Dilemma, a concept introduced by an economist in the 1960s. This dilemma suggests that no single national currency, including the US dollar, can sustainably serve as the world’s reserve currency without leading to chronic trade imbalances. He mentioned the unsuccessful attempt by the International Monetary Fund in 1968 to address this through Special Drawing Rights, which were limited to central banks.
He proposed that XRP could potentially address the shortcomings of Special Drawing Rights and alluded to public statements made by figures like Donald Trump and Treasury officials advocating for a more balanced global financial system, hinting at the potential role of the XRP Ledger.
Jesse emphasized that his theory is speculative and acknowledged that the price fluctuations he observed could be attributed to regular market activity rather than coordinated manipulation.
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