In a recent survey led by pro-XRP crypto vlogger “Jungle Inc.,” the community shared its views on the prevalent notion that XRP’s price is subject to manipulation. Thousands participated, with an overwhelming majority asserting that the price of XRP is indeed manipulated.
Jerry Hall’s Questionary Perspective
Prominent crypto YouTuber Jerry Hall, a figure in the XRP community, expressed his belief in XRP’s price suppression. He pointed to Ripple’s monthly market sales, suggesting that these sales were strategically orchestrated to finance Ripple’s operations.
According to him, these sales serve a dual purpose: facilitating the financing of Ripple’s operations while, in his view, leaving XRP holders in a position of funding without receiving corresponding support.
He said “Bag holders are financing Ripple while Ripple is not financing bag holders,” remarked Hall.”
Meanwhile, the argument surrounding XRP’s alleged suppression has been a long-standing topic within the community. Despite claims of a lack of sustained upward trajectory, Jungle Inc., the creator of the survey, presents a counter-narrative.
He questions the characterization of XRP as “suppressed,” highlighting its current valuation, nearly double that of competing projects like Cardano (ADA) and Polkadot (DOT). Jungle Inc. emphasizes historical value stability, challenging the straightforward labeling of XRP as suppressed.
XRP Sale Overview
Perhaps, based on Ripple’s quarterly report, reveal a substantial XRP sale of over 0.892 billion during the third quarter of 2023. With XRP’s current market value at approximately $0.6114, this amounts to a sale value exceeding $547 million. Ripple’s total XRP holdings, currently standing at 46.5 billion, further shape the context.
As Ripple’s XRP continues to be a focal point of discussion, we’ve peeled back the layers to examine the intricacies surrounding its price dynamics.
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