In-Depth Analysis of Ripple Executives Accused of XRP Price Suppression
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Allegations Against Ripple Leaders: A Closer Look
Renowned crypto analyst Bitlord has recently leveled serious accusations against Ripple’s top executives, Brad Garlinghouse and Chris Larsen. He claims they are systematically selling off XRP, a move he believes is artificially lowering the token’s market value. Bitlord has issued a stern warning, threatening to take his own measures if they continue this alleged practice.
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Bitlord’s Criticism of Ripple’s Leadership
In a post on platform X, Bitlord expressed concerns about the current valuation of XRP, suggesting that the cryptocurrency is undervalued. He argues that the Ripple founders are offloading their XRP holdings, which is negatively impacting the altcoin’s price. Bitlord questions the motivations behind these actions and speculates on possible underlying issues.
He proposes that Ripple might be struggling financially or facing stiff competition, prompting them to liquidate their XRP assets. Bitlord goes as far as to question the future viability of XRP, contemplating selling his own holdings. However, Tim, a member of the XRP community, countered these claims by highlighting Ripple’s ongoing advancements, including their payment solutions, bank integrations, and potential XRP ETFs as positive drivers for future price increases.
Challenges to Ripple’s Strategic Decisions
Bitlord further challenges the practical use of Ripple’s technology, questioning which governments would opt for it given potential competition from figures like Eric Trump. He also doubts the likelihood of banks adopting XRP, suggesting they might develop proprietary payment systems rather than relying on Ripple’s solutions. Bitlord remains skeptical about the tangible benefits of Ripple’s partnerships for XRP itself.
In a subsequent post, Bitlord announced plans to transfer a “relatively small portion” of his XRP to exchanges, signaling his dissatisfaction with the current situation. He issued an ultimatum to Garlinghouse and Larsen, demanding they halt their alleged selling activities within 24 hours.
Ripple’s Recent Escrow Activities
These accusations come on the heels of Ripple releasing 1 billion XRP from escrow. According to blockchain data, 700 million XRP were subsequently re-locked, leaving 300 million coins from the September release available in the market. Alongside Ripple’s actions, significant whale activity has been reported, with large investors accumulating XRP amidst its price decline.
Specifically, three major holders transferred 236 million, 230 million, and 257 million XRP to anonymous wallets, interpreted as a strategic accumulation rather than preparation to sell. Crypto analyst Ali Martinez has observed this trend, noting that whales have amassed 340 million XRP in the past fortnight, fostering a positive outlook for the altcoin.
As of the latest data, XRP is trading at approximately $2.79, reflecting a 3% increase in the last 24 hours, based on CoinMarketCap statistics.
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