A few days ago, an impressive rally caused the fourth-ranked digital currency XRP to move so high that it recorded its record daily price gain in the past three years. The coin gained 56% and moved to hit $0.50944, which is the highest level ever since December 22, based on the data on CoinDesk. However, it is the biggest gain in a single day per percentage ever since the 21st of December 2017.
The gain in price to a double-digit was influenced likely by members of a group on telegram named Buy and Hold XRP with the link (t.me/pumpxrp) that was created on Saturday. The membership of the group rose to hit 200,000 marks in the first 24 hours of its creation, which forced them to move to a new channel with the same name through a different link (t.me/pumpxrpofficial).
The managing partner and the co-founder of the Kenetic Capital based in Hong Kong told a representative of CoinDesk that WallStreetBets Crowd pumps are now copying and legitimizing the basic groups pumping crypto. The traditional crypto pumpers are now shifting their attention from DOGE to Ripple’s XRP.
The amazing dump and pump tactics are not a new thing to the crypto world and, particularly XRP, which has a huge fanbase interested in its growth. It is safe to say that their morale was boosted watching a young rookie group of day traders established on Reddit with the name WallStreetBets, who launched a predetermined bullish pressure on the video game retailer stock Gamestop which caused a huge loss for the hedge funds.
With this coordinated attack, GME – Gamestop spiked to over 400% rise over the last week close, adding the initial gain of about 83% rise, and this rise attracted the attention of financial regulators. While at that, a meme coin Dogecoin spiked to hit 800% gain in a day preceding the XRP planned surge.
Everyone has been waiting to see if the telegram support group – Buy and Hold XRP will still be faithful to the affairs of the coin, as the name says.
