- X user Sherrie disagreed that Ripple’s XRP sales were manipulative.
- The commentator believes Ripple’s selling and repurchasing of XRP is not manipulation.
- Sherrie backed this claim by citing audits and legal investigations into Ripple’s transactions.
The debate around Ripple’s XRP sales and its impact on XRP’s market value has remained a heated topic in the crypto community. Allegations of deliberate price manipulation by Ripple reached a new height recently following the disclosure of how Ripple leveraged various bots services to orchestrate its routine XRP sales.
However, some commentators, such as X user Sherrie, disagreed that Ripple’s actions were manipulative. In a recent thread, Sherrie delved into the nuanced difference between manipulation and causation.
Drawing parallels with everyday scenarios like dropping an apple, Sherrie distinguished between intentional manipulation and the natural consequences of actions. The commentator believes Ripple’s decision to sell XRP is not necessarily manipulative, regardless of the market’s response to such action.
Furthermore, Sherrie addressed the notion of market manipulation by using the example of Apple selling and rebuying shares to control prices. Contrary to popular belief, Sherrie argued that such actions, while affecting supply and demand dynamics, do not necessarily constitute manipulation but rather a fundamental principle of economics.
On this premise, Sherrie emphasized that Ripple’s selling and repurchasing of XRP did not amount to market manipulation. She backed her claim by citing audits and legal investigations into Ripple’s business transactions:
After multiple audits and investigations into the business, it was determined by evidence and a federal judge that XRP follows Bitcoin.
Essentially, Sherrie asserted that Ripple’s conduct aligns with market norms and regulatory standards as no illegal activities were identified on their side. Moreover, she noted that the July 2023 victory ruling reinforced the legality of Ripple’s XRP sales, further dispelling claims of illicit manipulation.
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