- Binance accused of dumping XRP as BNB surges unexpectedly higher.
- Market slides while BNB climbs, fueling fresh manipulation allegations.
- Analysts spot imbalance, questioning Binance’s influence over crypto prices.
Fresh allegations have stirred the crypto market after reports surfaced that Binance may be dumping millions of XRP, prompting claims of deliberate market manipulation. According to Stern Drew, the exchange is allegedly unloading large volumes of XRP and Bitcoin, an act he described as “pure manipulation.”
His statement quickly gained attention, sparking widespread debates about Binance’s trading behavior and its possible influence on prices.
Despite the noise, XRP remains relatively stable. The token trades at $2.86 after a slight 3.36% drop in the past 24 hours. Bitcoin, priced at $122,438, saw a smaller 1.22% dip. These modest moves indicate that any potential selling pressure is being met by strong buyer activity. The balance between buying and selling appears to be keeping prices from sliding further.
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Analysts Highlight Suspicious Market Pattern
Crypto analyst MANTIS explained that while the allegations of dumping are circulating, XRP’s steady performance despite selling pressure suggests strong market absorption. He noted that consistent buybacks after brief dips reflect investor confidence in the asset’s resilience.
Meanwhile, market watcher Pumpius shared the chart and offered a more sarcastic take on the situation. Reacting to the visible contrast between BNB’s rise and the overall market decline, he mocked the idea that Binance’s dominance could be coincidental.
His post, “Yesterday the whole market tanked. BNB hits new highs. This is totally natural. Binance would never manipulate,” was clearly laced with irony. The remark underscored growing skepticism that the sharp rise of BNB amid widespread declines could be purely organic.
Across exchanges, liquidity remains stable, but the unusual divergence between BNB and other major cryptocurrencies continues to fuel debate. Many traders see this as evidence that Binance’s internal activity might be influencing token rankings and market trends.
The allegations of Binance dumping XRP and manipulating market movements have intensified after BNB’s strong rally contrasted sharply with a market-wide decline. Analysts like Pumpius have pointed to this unusual behavior as a possible sign of deeper structural issues within the exchange.
For now, the market remains cautious as XRP holders and investors watch closely for further price shifts that could confirm or dispel these suspicions.
Also Read: Bitcoin Holds Steady as Altcoins Show Mixed 24-Hour Performance
