Crypto markets are no strangers to controversy, yet the latest allegations from Versan Aljarrah, founder of Black Swan Capitalist, are stirring up quite the storm. On August 7, Aljarrah took to X, formerly known as Twitter, to assert that the XRP price is being deliberately manipulated by a complex system involving exchanges, regulatory frameworks, and liquidity mechanisms. He didn’t mince words, calling it “The Biggest Financial Cover-Up.”
The Alleged Underbelly of XRP Trading
Aljarrah’s core argument is built on the premise that XRP’s current market value doesn’t truly reflect its utility or adoption. He points fingers at a “layered, coordinated” system that, according to him, spans across trading platforms and regulatory bodies. “This wasn’t about investor protection,” he claims, referencing the SEC’s December 2020 lawsuit against Ripple. He suggests the timing was far from coincidental, labeling it as “strategic economic warfare” aimed at stalling XRP’s momentum just as it was gaining traction in financial circles.
The crux of Aljarrah’s critique zeroes in on centralized exchanges. He alleges that as soon as liquidity or organic trading volume begins to build, a pattern of “coordinated resistance” emerges. This is supposedly executed through algorithmic trading bots, spoof orders, and wash trading—all designed to stall momentum and obscure genuine demand. If treated like any other asset, XRP would display “sharp upward price action,” Aljarrah argues. This follows a pattern of institutional adoption, which we detailed in our analysis of corporate treasury investments.
Ripple’s Global Strategy and U.S. Market Restrictions
Aljarrah paints a picture of a dichotomous market landscape. While Ripple is expanding globally—particularly in Asia and the Middle East—U.S. investors find themselves sidelined due to regulatory murkiness. Major platforms like Coinbase and Kraken delisted XRP post-SEC lawsuit, effectively cutting off retail investor access. “The US was playing both sides,” Aljarrah bluntly states, suggesting that while retail investors were kept in the dark, institutional players gained early access through private channels.
He further elaborates on Ripple’s On-Demand Liquidity (ODL) flows, describing how they settle in XRP but remain outside traditional market visibility. Aljarrah argues that volumes are routed through over-the-counter (OTC) desks and private corridors, minimizing market exposure and price impact. The result? XRP functions as a global bridge asset without triggering price surges on public exchanges. As explored in our recent coverage of XRP, Ethereum’s market rebound amid geopolitical tensions, these dynamics are crucial in understanding the broader market movements.
A Price Suppressed by Design?
Aljarrah’s assertions don’t stop at market mechanics. He posits that XRP’s trading correlations are mismatched, as the asset is being treated like a long-term utility instrument, unlike the speculative nature of Bitcoin or Ethereum. He suggests institutional accumulation is happening behind the scenes, while retail investors are left out.
“You can’t accept XRP’s role in real-time settlements and global remittance adoption at a stagnant $3 price tag without acknowledging how tightly it’s being controlled,” Aljarrah insists. He argues that if XRP were allowed to operate in a truly open market, its price would not be hovering around the $3 mark.
The allegations, while lacking concrete evidence like order-book data or corridor-level volumes, present a provocative narrative. According to Aljarrah, the current landscape is a deliberate setup, designed to keep XRP suppressed until the necessary infrastructure is ready to support a shift to new monetary systems.
What’s Next for XRP?
The open question Aljarrah leaves us with is how long this alleged suppression will last. As he puts it, “how long will the suppression continue while the very institutions enforcing it prepare to flip the switch?” It’s a question that resonates with market watchers and investors alike.
As things stand, XRP trades at $3.33, a figure Aljarrah believes is artificially deflated. Whether his claims will lead to regulatory scrutiny or market shifts remains to be seen. Nonetheless, the conversation he’s sparked is likely to linger, raising questions about the interplay between regulation, market manipulation, and the true potential of digital assets.
Source
This article is based on: XRP Price Suppressed By ‘Layered, Coordinated’ Manipulation, Pundit Alleges
Further Reading
Deepen your understanding with these related articles:
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- SBI Files for Bitcoin–XRP ETF in Japan, Pushing Dual Crypto Exposure Into Regulated Markets
- Bitcoin Bounces, Ethereum and XRP Flash Strong Signals: Analysis
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
