1 August 2026
XRP surged highest single day gain in 3 years
XRP surged 56% ($0.50944) and reached the highest level since Dec. 22, according to CoinDesk. This biggest single-day percentage gain was fueled by members of a Telegram-based group called Buy & Hold XRP created on Saturday. Within the first 24 hours, group membership was hit by 200,000 which eventually led to their migration to a new official channel with the same title but different link.
Classic pump and dump tactics are not new for XRP. It has a strong army of followers, and a group of traders has recently boosted their morale on a Reddit forum called WallStreetBets. They also launched a coordinated buying attack by activating short squeeze on the video game retailer called Gamestop. This Short-squeeze target GameStop (GME) surged nearly 400% last week and gained unwanted attention from regulators.
Meanwhile, the meme-based cryptocurrency dogecoin surged 800% a day before XRP’s price pump. The data also suggest that the crowd buying tactics are returning back to their home by introducing the democratic system in the legacy markets.
According to Jehan Chu, co-founder and managing partner at Hong Kong-based Kenetic Capital “Traditional Crypto-Pump groups are being legitimized by WallStreetBets-style crowd-pumps turning them from Dogecoin to XRP” However, it remains to be seen if the Buy & Hold XRP group members remain faithful to the group’s title.
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