NAIROBI (CoinChapter.com) — Ripple has repeatedly faced accusations of “dumping” XRP tokens as a part of its monthly escrow unlock program. Nonetheless, the blockchain payment company’s CEO, David Schwartz, denied the allegation of XRP price manipulation, stressing transparency and responsible sales practices.
Schwartz Denies XRP Price Manipulation Rumors
In response to accusations of keeping XRP sales data hidden, Schwartz emphasized Ripple’s commitment to transparency. He stated”
“Yes, we choose when to sell. Yes, we choose how much to sell. And everyone can see how much XRP comes out of escrow and how much goes back in.”
He clarified that Ripple stopped programmatic XRP sales in Q1 2023, highlighting a company statement explicitly mentioning this action. However, he denied accusations of misleading the public regarding “On-Demand Liquidity (ODL)” sales, stating that they “stopped programmatic sales of XRP… ODL sales are still ongoing.”
Distinguishing “Dumping” from “Selling”
Closely following Ripple’s developments, Attorney Bill Morgan differentiated between “dumping” and “selling.” He stated, “Dump…implies selling to an extent that suppresses price…not just any selling.” He urged the XRP community to avoid conflating the two and base arguments on evidence.
Morgan noted that despite HBAR’s increased circulating supply (15 billion to 33 billion), its price remained higher than two years ago due to smart money absorption. He suggested the XRP community learn from this example, stating, “People…carrying on about Ripple dumping should listen…”
Meanwhile, journalist Zach Rector contends ordinary XRP investors have sold more than Ripple recently. “The irony of this whole situation is…it’s actually the retail investors who have been dumping XRP. Not Ripple,” he said in a video.
As discussions continue within the XRP community, stakeholders emphasize the importance of evidence-based discourse to understand market dynamics better and ensure informed decision-making.
