Is XRP's Price Being Manipulated? Shocking Claims Surface

Is XRP’s Price Being Manipulated? Shocking Claims Surface

29 November 2023

in XRP

Reading Time: 2 mins read

In a recent survey led by the pro-XRP crypto vlogger “Jungle Inc.,” the community has voiced concerns about the suspicion that XRP’s price is being manipulated. With thousands of participants, a big majority agreed that the price of XRP is indeed being manipulated.

Jerry Hall’s Perspective

Enter Jerry Hall, a well-known figure in the XRP community, who firmly believes in XRP’s price suppression. He points to Ripple’s monthly market sales, suggesting that these sales are carefully planned to fund Ripple’s operations.

Hall argues that these sales serve a dual purpose: supporting Ripple’s operations while, in his view, leaving XRP holders in a situation where they’re financing without receiving support. In simpler terms, “Bag holders are financing Ripple while Ripple is not financing bag holders,” says Hall.

XRP’s Alleged Suppression

The debate about XRP’s alleged suppression has been ongoing in the community. Despite claims of a lack of consistent upward movement, Jungle Inc., the survey’s creator, offers a different perspective.

Challenging the idea of XRP being “suppressed,” Jungle Inc. points to its current value, nearly double that of competing projects like Cardano (ADA) and Polkadot (DOT). He emphasizes its historical stability, countering the idea that XRP is simply being suppressed.

A Look at Ripple’s Numbers

Adding complexity to the discussion is Ripple’s quarterly report, showing a significant XRP sale of over 0.892 billion in the third quarter of 2023. At XRP’s current value of approximately $0.6114, this equals a sale value of over $547 million. Ripple’s total XRP holdings, currently at 46.5 billion, give more context to this financial puzzle.

As Ripple’s XRP remains a hot topic, stay tuned to Coinpedia for all the necessary updates.

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