- User argues that Ripple’s sales and repurchases of XRP align with economic principles, not constitute manipulation.
- July 2023 audits and court decision confirm legality of Ripple’s operations, refute allegations of price manipulation.
Recent revelations about how Ripple has used bot services to orchestrate its routine XRP sales intensified accusations of price manipulation. The analyses explored the distinction between manipulation and the natural consequences of actions in the market.
Through comparison with Apple’s practice of selling and repurchasing shares, it is argued that such moves, while affecting supply and demand dynamics, should not automatically be labeled as manipulative. Instead, it is suggested that they are part of the fundamental economic principles governing financial markets.
Referring to several audits and a legal investigation that examined Ripple’s trading transactions, It was stressed that, as previously reported by ETHNews, no illegal activities were found.
In addition, a July 2023 court decision confirmed the legality of Ripple’s sales of XRP, strengthening the position that its market practices do not constitute manipulation.
Morgan’s Confidence in the Rise of XRP
Bill Morgan, has projected XRP to reach a new all-time high (ATH) of $3.84 within the year.
This optimism from Morgan is based on the recent performance of Bitcoin, which has set a new ATH surpassing $70k. This situation, according to Morgan, creates an environment ripe for increased investment in XRP.
“With Bitcoin reaching its ATH and XRP at $0.62, near its all-time low against Bitcoin, the time is now,” he stated.
Contrarily, Sherrie, an active user on social media platforms, expresses concern about the potential consequences of the SEC’s lawsuit against Ripple on the value of XRP, Sherrie contemplates reducing her exposure to XRP. Her concern lies in the negative impact an SEC appeal could have in the short term, which could take investors away from a potential bull rally.
SEC attorneys wrote to the court stating they have no intent to appeal the status of XRP as proclaimed by Judge Torres.
Separately I'll note that I don't think the market cares what happens with the rest of the Ripple/SEC lawsuit.
— Moon Lambo (@MoonLamboio) March 8, 2024
However, Moon Lambo, an influential YouTuber and follower of XRP, offers a perspective that dispels some of the uncertainty. He clarifies that the SEC is not questioning XRP’s regulatory status, indicating that the debate over whether XRP is considered a security has been resolved.
Additionally, Bill Morgan insists that the crypto market is still attentive to the development of the lawsuit, anticipating a possible positive impact on XRP’s price once the litigation is concluded.
He identifies four key aspects that the market expects from the case, two of which have already been met: the recognition of XRP not as a security and its sale on U.S.-based exchanges. Pending outcomes include the completion of the case and Ripple’s ability to market XRP to U.S. financial institutions.
Ripple’s legal victory, as ETHNews previously reported, not only validates its operations but also clears the air around the manipulation allegations. According to Sherrie, Ripple’s conduct is in line with market and regulatory standards, indicating that its sales and repurchases of XRP remain within the acceptable bounds of digital asset management.
Ripple’s actions, including XRP sales and repurchases, are thus revealed to be market tactics rather than manipulative schemes. This analysis, backed by audits and lawsuits, invites a reassessment of perceptions about manipulation in the cryptocurrency sector.
