A crypto commentator is urging XRP holders to think twice before cashing out near the $32 mark, arguing that the sell orders stacking up on Coinbase are not organic market activity but a coordinated effort by large holders to shake retail investors out of their positions.

Jared Johnston, a crypto analyst, has been tracking substantial sell walls on Coinbase concentrated between $28 and $32. The orders, he said, are valued in the tens and hundreds of millions of dollars and appear to have been placed by institutional players and whales. What makes the setup particularly suspicious to him is that two prominent community figures known as the Riddlers recently published price targets of $33, creating what he called a “pretty conspicuous”…