Addressing Concerns Over Ripple’s XRP Sales
Legal expert and pro-XRP enthusiast, Bill Morgan, has provided a detailed response to clear up misinformation about Ripple’s $238M XRP sales in December 2023. He sheds light on crucial aspects related to Ripple’s XRP sales and their potential impact on the market.
Clearing Misinformation about Ripple’s XRP Sales
Morgan challenges the “false narrative” suggesting that Ripple is dumping a lot of XRP. He provides strong evidence, referring to the inflation rate tied to the circulating supply resulting from the release and sale of XRP from escrow, calculated at 7.86%.
Even though this inflation rate is relatively high, it doesn’t convincingly clarify why XRP’s price would be significantly negatively affected, argues Morgan.
Insights from the SEC vs Ripple Case
Morgan provides key insights drawing from the SEC vs Ripple case, noting that the evidence presented during the lawsuit reveals that Ripple’s contribution to total XRP volume in the market was less than half of 1%.
He highlights the SEC’s argument that Ripple used methods like putting XRP in escrow and buying some back to help keep the price of XRP stable, which is quite different from the claim that Ripple is dumping lots of XRP.
Holding and Selling XRP
Morgan addresses the criticism directed at Ripple for both holding too much XRP and selling it, pointing out that there’s a fixed amount of XRP that won’t increase, and Ripple’s actions seem to be more like a careful plan than just dumping everything.
While the crypto community tries to understand the intricacies of XRP sales and their effects, Morgan’s thoughts question existing ideas and set the stage for a more educated conversation.
Hot Take
Bill Morgan’s insights provide a fresh perspective on Ripple’s XRP sales, challenging prevalent misconceptions and encouraging a more informed discussion within the crypto community.
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