XRP:PUMP AND DUMP

This is similar to the GameStop share price pump and that of Dogecoin, two of which occurred previously due to social media influence.

A surge like this has never been documented in over three years and all in a single day. Although this was before massively taking a deep plunge— dump. All of this was brought about by yet another social media group, this time, on telegram, and this group is called the "Buy and Hold XRP."

At first, I never would have thought that XRP would reach any uprise at a price, talk less of a pump. My reason being the several security lawsuits filed against ripple Labs Inc and their CEO Bard Garlinghouse.

The charges against them had already driven many investors away and kept a good number skeptical about the future of Ripple. XRP has been struggling lately, but the retail crowd isn't having it. Buy-and-hold XRP managed to rally up a massive pump in the system. So, of course, this had holders excited, newbies investing as well as others buying Ripple. Everyone was awaiting the top, to probably order payout or sell out when the time was right.

Like every pump and dump, there is a catch for the last holder of the coin.

Pump-and-dumps, in general, tend to end up badly for a lot of investors, especially those new to Ripple. Newbie investors are always losing significant amounts of money in shitcoins. They tend to let the price surge bait them into investing, unknown to them that the dump afterward might leave them at the short end of the stick with huge losses.

The worst part about the XRP pump-and-dump today was that the dump went significantly lower than previously. This is very bearish for Ripple on top of their already tragic security lawsuits. Below you can find an illustrated graph showing the dump that occurred after the price spike earlier today;

From the looks of it, the aftermath of the pump and dump is a tragic one for the bulls. The losses are evident, especially for those currently still holding Ripple.

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