TLDR
- An XRPL validator, Grape, reveals suspicious XRP transfers that may indicate price manipulation in the market.
- Grape’s Python-based system flagged large XRP transactions exceeding 10,000 XRP, showing unusual activity.
- The validator discovered repeated transfers between exchange wallets, suggesting coordinated manipulation rather than genuine trading.
- Large XRP transfers could be inflating market volume, creating a false sense of demand and affecting price indexes.
- Grape warns that wash trading practices, while illegal in regulated markets, continue to influence the largely unregulated crypto space.
A prominent XRPL validator, Grape (@RealGrapedrop), recently raised concerns about potential price manipulation in the XRP market. By analyzing transaction data from the XRP Ledger (XRPL), Grape uncovered patterns suggesting the authenticity of price movements may be in question. Grape’s findings indicate possible wash trading practices, with large XRP transfers that could be artificially influencing market prices.
XRPL Validator Uncovers Frequent XRP Transfers
Grape, who has been running a validator on the XRPL mainnet since July 12, identified several large XRP transactions that raise suspicions of market manipulation. By leveraging a Python-based system, Grape flagged transfers exceeding 10,000 XRP. These large transfers, occurring every few minutes, seem too frequent and large for typical retail trading activity.
According to Grape’s analysis, transfers often involve hundreds of thousands of XRP amounts moving between exchange-controlled wallets. Grape’s research showed that these transactions were predominantly between Bitget and Binance exchange wallets.
“These repeated transfers indicate a potential coordinated movement, rather than genuine market activity,” Grape said.
XRP Forensics: Price Manipulation in Plain Sight?
If anyone has been following me you probably know I started running an XRPL Validator since July 12, 2025, and what I’m seeing is…shocking.
This isn’t conspiracy talk — I have live transaction data that might prove how the… pic.twitter.com/la5QZglNVd
— 𝐆𝐫𝐚𝐩𝐞 (@RealGrapedrop) August 12, 2025
Impact of Manipulated Volume on XRP Price Indexes
The repeated large XRP transfers have implications for the price indexes and market cap calculations. XRP’s price is often derived from volume-weighted averages, meaning large movements in transaction volume can significantly influence price figures. Grape highlighted that wash trading practices, which involve inflating volume without real trade, could be creating a false sense of demand in the XRP market.
“When the volume metrics are inflated, they mislead traders and algorithmic participants,” Grape explained. “These artificial spikes can nudge price indexes, creating volatility and distorting market sentiment.”
Wash trading, while illegal in regulated markets, remains prevalent in the largely unregulated cryptocurrency space. This gap in enforcement allows manipulative practices like wash trading to continue unchecked.
Grape’s Ongoing Efforts to Expose XRP Market Manipulation
Grape is committed to continuing its efforts to track large XRP transactions and expose potential manipulation. By analyzing XRP transfers and monitoring wallet movements, Grape aims to raise awareness about the issue.
He stated, “Data doesn’t lie, and we need to stay vigilant to ensure fair market conditions for all XRP stakeholders.”
While some traders may not fully understand the implications of manipulated volume, Grape’s analysis serves as a warning to the XRP community. He encourages further monitoring of exchanges and warns against relying solely on market figures that may be artificially inflated.
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Source: https://blockonomi.com/are-xrp-prices-manipulated-xrpl-validator-reveals-shocking-findings/