Is Ripple to Blame for the XRP Price Decline?
The XRP price has been steadily declining since the US SEC announced its intention to file for an interlocutory appeal in its case against Ripple. Speculations have arisen within the community on whether Ripple is responsible for the decline. Recently, Ripple Labs announced its acquisition of Fortress Trust, a financial institution involved in the blockchain and Web3 space. However, questions have emerged regarding whether this acquisition has contributed to the XRP price falling. Some individuals, like lawyer Bill Morgan, have raised concerns that Ripple may have sold a significant amount of XRP to finance the acquisition. Others, like Moon Lambo, argue that Ripple likely didn’t sell more XRP than normal to fund the purchase. Interestingly, XRP has performed worse than other cryptocurrencies, such as Bitcoin and Ethereum, suggesting additional selling pressure. Despite this, there is no evidence of Ripple selling tokens, indicating that the sell pressure may be coming from elsewhere.
Scrutinizing The Latest Ripple Acquisition
Last week, Ripple Labs announced its acquisition of Fortress Trust, a financial institution heavily involved in the blockchain and Web3 space. This acquisition was seen as a promising move for Ripple, as it could further its interests in asset tokenizations and cross-border payments. However, the news of the acquisition has raised questions about whether it has contributed to the recent decline in the XRP price. Some speculate that Ripple may have sold a significant amount of XRP to finance the Fortress acquisition. Bill Morgan, a lawyer, expressed concern about this possibility. However, others argue that Ripple likely didn’t sell more XRP than usual to fund the deal, as the company already has a substantial amount of cash. While XRP has been performing worse than other top cryptocurrencies, there is no evidence of Ripple selling tokens, suggesting that the sell pressure may be coming from elsewhere.
Hot Take: Is Ripple Responsible for the XRP Price Decline?
The recent decline in the XRP price has led to speculation about whether Ripple is to blame for the downturn. Following the announcement of its acquisition of Fortress Trust, questions arose about whether Ripple sold a significant amount of XRP to finance the deal. While some individuals express concern that Ripple may have contributed to the decline, others argue that the company likely didn’t sell more XRP than usual. The XRP price has been performing worse than other cryptocurrencies, suggesting additional selling pressure. However, there is no evidence of Ripple selling tokens, indicating that the sell pressure may originate from elsewhere. As the XRP community continues to analyze the situation, it remains to be seen what factors are truly influencing the altcoin’s price movement.
By
By
By
By