Bitcoin

Is Ripple Really Holding XRP Back? A Pro-XRP Lawyer Breaks the Silence


The debate on the influence of Ripple on the price of XRP has been taking place for years. Many criticisms argue that the monthly sales of XRP of Ripple have prevented the token from taking off, despite the upper trends in the wider market of cryptography. But now, pro-XRP lawyer Bill Morgan intervened with a detailed answer that questions this whole story.

In a response to a popular cryptographic thread, Morgan clearly said that some of the online circulating claims are misleading. One of the largest claims is that Ripple has more than 43% of the XRP offer and uses it to empty the market. Morgan was quick to emphasize that this is simply not true.

He referred Coinmarketcap own dataThis shows that 58.5% of the total XRP power supply is already circulating. Ripple does not control the whole remaining offer, especially not the way people think. A large part is locked in sequestration, and only a controlled part is released each month.

So, what about these monthly sales of the whole? Do they not hurt the price of XRP? According to Morgan, Ripple sales represent only 1% fraction of total monthly trading volume. It is far too little to cause a major deletion of prices. He adds that the reaction of the market to XRP is influenced by much greater forces – such as the Bitcoin movement and the general feeling of crypto – not by the controlled sale of Ripple.

Bill Morgan also underlined a major fact that is neglected. During the intense 18 -month intense investigation of the SEC on Ripple, no evidence was noted that the company has manipulated or removed the price of XRP. In fact, Morgan argues that Ripple has made efforts to support the XRP price, not delete it. One of these efforts was the creation of the whole system in the first place, which was designed to control food and bring transparency to the release of XRP over time.

The lawyer continued by saying that if Ripple continues to release the same amount of the whole each month, the impact on the price will become even smaller as XRP enters traffic. Basically, the market will absorb these versions with less and less effect.

Morgan finished his comments by saying that he agrees with the overall conclusion of the wire – that there is no real evidence of deleting prices. He also noted that the evidence of Ripple experts during the trial showed that the XRP price generally follows the same trends as Bitcoin and Ethereum. From what he has seen in the past four years, this is always true.

At the heart of the debate is this question: does Ripple help or does he harm the future of XRP? According to Bill Morgan, data and legal files strongly suggest that Ripple is not the villain that some claim it. If anything, its efforts – such as the whole system and support for liquidity on demand (ODL) – have brought a structure to the supply of XRP to a market often governed by media and speculation.

So, does Ripple really retain XRP? Based on everything Morgan shared, it doesn't look like that.

Read also: XRP portfolios reach a level of all the time – but is the price about to decompose?

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