Ripple’s sales of XRP and their impact on the cryptocurrency market have sparked a heated debate among the community. Recent revelations of the company’s use of various bot services to orchestrate regular XRP sales have fueled allegations of price manipulation by Ripple.
Sherrie, a commentator, has offered a unique perspective on the matter, distinguishing between intentional manipulation and natural causation. Sherrie likens Ripple’s actions to dropping an apple, arguing that the company’s decision to sell XRP is not necessarily manipulative but rather a consequence of their business strategy.
Sherrie emphasizes the importance of supply and demand dynamics in market transactions, citing examples such as Apple’s selling and repurchasing of shares. Contrary to popular belief, Sherrie asserts that these actions, while influencing market dynamics, are inherent to economic principles and do not automatically constitute manipulation.
Sherrie also points to audits and legal investigations into Ripple’s business transactions as evidence of the company’s compliance with regulatory standards. She highlights a federal judge’s determination, based on substantial evidence, that XRP follows the market trajectory of Bitcoin. Furthermore, Sherrie mentions a ruling in July 2023 that validated the legality of Ripple’s XRP sales, further supporting the absence of illicit activities.
Despite Sherrie’s argument, concerns persist within the crypto community regarding Ripple’s influence on the market value of XRP. The disclosure of bot services employed by Ripple has intensified scrutiny, with critics asserting that such tactics undermine the integrity of the market.
