A recent social media post has sparked discussion in the crypto community about whether the price of **XRP** is being held down due to reasons beyond the SEC lawsuit. Some believe the post is causing unnecessary fear, while others suggest it could indicate market manipulation.
The post pointed out Ripple’s monthly sales of **XRP**, unusual network patterns, and past price movements, especially during the 2017 rally, as potential signs of price suppression. It referenced a study that found a negative relationship between **XRP**’s transaction network and its price performance, leading to questions in the community.
However, lawyer and **XRP** supporter Bill Morgan debunked some of the claims made in the post. He clarified that Ripple does not actually own 43% of the **XRP** supply, as suggested. According to CoinMarketCap, about 58.5% of **XRP** is in circulation, excluding what Ripple holds in escrow.
Morgan also explained that Ripple’s monthly sales from escrow account for a small portion of the total market volume and do not impact the price significantly. Evidence from the SEC lawsuit showed that Ripple took steps to support **XRP**’s price, like locking up tokens in escrow to reduce market pressure.
Addressing concerns about price manipulation, Morgan pointed out that the SEC thoroughly investigated Ripple for over 18 months before filing the lawsuit. If there was evidence of price manipulation, it would have been presented in court. This casts doubt on the claims of price suppression.
Morgan further emphasized that historically, **XRP**’s price has moved in line with the broader crypto market, following trends set by Bitcoin and Ethereum. This pattern has remained consistent over the past four years, with little changing to challenge it.
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