Grape Validator Flags XRP Wash Trading, Price Manipulation
Grape, an XRPL validator operator, warns of systematic XRP price manipulation and wash trading on the ledger. Since July 12, it tracks all transfers above 10,000 XRP with a Python tool. The data shows repeated whale transfers—some exceeding 100,000 XRP—between exchange wallets like Bitget and Binance. On-ledger wash trading can distort volume-weighted XRP price indexes and inflate market caps, misleading traders and algorithmic systems. Grape plans to refine its detection to map wallet clusters and link on-ledger flows with off-ledger order book data. This effort aims to distinguish genuine settlements from manipulative strategies and highlight challenges in XRPL oversight without exchange transparency. Traders should weigh the risk of XRP price manipulation against bullish technical signals, including a recent XRP/USD breakout on Bitstamp targeting $5.38 and a rising RSI above 50.
Neutral
Short-term, Grape’s discovery of systematic XRP wash trading and price manipulation may undermine trader confidence and increase market caution. On-ledger manipulation can skew volume metrics and distort market caps, potentially triggering volatility as traders reassess XRP liquidity. In the long term, Grape’s ongoing monitoring and improved analytics could deter manipulative practices and enhance market transparency on the XRPL. Combined with bullish technical indicators—such as the XRP/USD breakout and rising RSI—this may support more stable price discovery, resulting in a neutral outlook overall.