A recent social media post has reignited debates in the cryptocurrency community, questioning whether XRP’s price stagnation extends beyond the ongoing SEC lawsuit. While some dismiss the claims as fear-mongering, others speculate about potential market manipulation.
What Sparked the Controversy?
The viral post suggested that Ripple’s monthly XRP sales, anomalous network activity, and historical price movements—especially during XRP’s 2017 surge—might indicate deliberate price suppression. It referenced a study correlating XRP’s transaction network with negative price performance, prompting widespread skepticism.
Legal Expert Debunks Suppression Claims
Bill Morgan, a prominent attorney and XRP advocate, countered these assertions with factual clarifications:
- Ownership Misconception: Ripple does not control 43% of XRP’s supply. Current data shows 58.5% of XRP is in circulation, excluding escrow-held tokens.
- Market Impact: Ripple’s monthly escrow releases constitute a negligible portion of trading volume, with no measurable effect on price. Court documents from the SEC case even revealed Ripple’s efforts to stabilize prices by locking up substantial XRP reserves.
"The post’s generalizations lack accuracy. Ripple’s sales are too minor to manipulate markets, and the SEC found no evidence of wrongdoing during its 18-month investigation."
— Bill Morgan (@Belisarius2020)
Morgan emphasized that XRP’s price trends align closely with Bitcoin and Ethereum, reflecting broader cryptocurrency market cycles—a pattern consistent over the past four years.
FAQs
Is XRP’s price artificially suppressed?
No credible evidence supports this claim. Ripple’s limited sales and market-driven trends contradict manipulation theories.
Did the SEC uncover price manipulation by Ripple?
The SEC’s lengthy investigation yielded no such findings, reinforcing Morgan’s stance.
How does XRP’s price relate to other major cryptos?
XRP historically mirrors Bitcoin and Ethereum’s market movements, indicating organic price dynamics.
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