Bill Morgan, a lawyer and entrepreneur, has addressed the rumors that Ripple is dumping XRP to manipulate its price.
No Evidence to Support Claims
Morgan debunks these claims, stating that there is no evidence to suggest that Ripple is intentionally dumping XRP to suppress its price.
McCaleb’s XRP Sales
Jed McCaleb, a co-founder of Ripple, has been selling XRP since 2014 as part of his compensation agreement. This has created some selling pressure on XRP, but it has not been the primary driver of its price decline.
XRP Price Follows Market Trends
Morgan emphasizes that XRP’s price movement is closely tied to the broader crypto market, particularly Bitcoin and Ethereum.
FUDding and Misinformation
Morgan warns against spreading misinformation that Ripple is suppressing XRP’s value. He believes that this is either intentional or unintentional, but it ignores the real reasons behind XRP’s price fluctuations.
