For those who don't know, there was a telegram group with over 100k members all telling people to buy XRP and hold on feb 1st. This spread like crazy, I had family members asking me if they should buy XRP and hold on monday.
Heres the result… 40% dump in a few hours leading up to the time the group was telling people to hold till.
If you were a victim to this pump and dump, I'm sorry for your losses. This is a tough life lesson for anyone new to investing. I don't mean to rub salt in the wound but this could be seen from a mile away, pump telegram channels ALWAYS have the exact same outcome. It's important you understand this to avoid getting burned in the future.
How did this get so big?
The GME movement has set off a chain reaction throughout all global markets and this pump and dump was perfectly timed to disguise itself as another revolution.
Unfortunately the XRP pump and dump is almost the exact opposite, XRP is given out for free to huge businesses and celebrities who agree to a public partnership. Instead of screwing over the rich. You just pumped their bangs and gave them a decent amount of volume to dump into before the lawsuit.