The XRP cryptocurrency reached its biggest single day gain

On Saturday, XRP touched its biggest single-day high in 3 years. The move was similar to a crowd pump recently observed in out-of-favor stocks such as GameStop.
XRP was 56% up to the highest level of $0.50944. It was the highest level since Dec 22. And biggest single-day gain since Dec. 21, 2017.

Reportedly, behind this bullish move is a Telegram-based group called Buy & Hold XRP, which started on Saturday, and the group’s membership hit Telegram’s 200,000 ceilings within the first 24 hours, forcing a migration to a new official channel with a similar title but a different link.

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Jehan Chu, co-founder and managing partner at Hong Kong-based Kenetic Capital, said that “Traditional Crypto-Pump groups are being copied and legitimized by WallStreetBets-style crowd-pumps, and are now turning their burning gaze from Dogecoin (DOGE, +37.04%) to XRP.”

These tactics like Classic pump and dump are very common in Cryptocurrencies, especially in XRP. But this bullish rally was boosted by some amateur day traders based on a Reddit forum called WallStreetBets, they have recently launched a buying attack on the video game retailer Gamestop.

Due to which Gamestop surged nearly 400% last week, extending the preceding week’s 83% rise and attracting unwanted attention from regulators.

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And the meme-based cryptocurrency dogecoin surged 800% a day before XRP’s bullish rally.
Now, we have to see that the group of traders hold the stocks of XRP and continues the bullish streak, or again the bear gang comes to the race.