Brad Garlinghouse is the big man at Ripple, he says the over-the-counter sale of XRP has no influence on the price.
Great inequality leads to dissatisfaction
This year has not (yet) been good for the XRP course. The price of XRP has fallen 27 percent this year, while bitcoin has risen 175 percent.
This great inequality led to twitterer Crypto Bitlord starting a petition. The goal is to require Ripple to sell part of their XRP inventory to companies and exchanges. More than 3500 people have signed the petition so far.
As you know, Ripple continuous dumping billions & billions of $ XRP on the market, crashing the price !!!
I decided to make a change to stop @ Ripple dumping on us ?#xrparmy #xrpthestandard #XRPcommunity https://t.co/sXqPcUDfBd
– CRYPTO BITLORD (@Crypto_Bitlord) August 5, 2019
During an interview with CNN (view below), Garlinghouse compares Ripple’s holdings of more than half of the total XRP offering, with how bitcoin whales have large amounts of BTC. He believes that this cannot affect the price.
“If you look at the correlations between XRP and most of the cryptomarket, or what are often called the altcoins, you see many similarities. Ripple cannot influence the price of XRP more than the whales can determine the price of bitcoin. Some altcoins, and especially the smaller ones, run the risk of people manipulating them. But we are talking about XRP, trading a billion dollars a day. So I don’t think anyone can actually manipulate those prices.
“At bitcoin there are whales who were there early. There is even a wallet with one million bitcoin, nobody knows who they belong to. Ripple is the largest owner in the XRP community. ”
Ripple fork
Garlinghouse says it is not in his interest to flood the market with XRP. Ripple in particular benefits from a healthy XRP ecosystem. Crypto Bitlord also threatens to force XRP if Ripple does not stop selling XRP. This can happen just like that, since XRP is open source, says Garlinghouse. The latest quarterly report from Ripple says it sold more than $ 250 million to XRP in the second quarter. The plan is to sell less XRP this quarter.
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