XRP news today: XRP Price Suppression Claims Debunked by Legal Expert

In the crypto community, a recent social media post has sparked a heated debate about whether XRP's price is being suppressed beyond the ongoing SEC lawsuit. The post, which quickly gained traction, suggested that Ripple's monthly XRP sales, unusual network patterns, and historical price movements, particularly during the 2017 rally, indicated possible price suppression. The post also referenced a study that found a negative correlation between XRP's transaction network and its price performance, raising further questions within the community.

However, attorney and XRP supporter Bill Morgan has stepped in to clarify the situation. Morgan addressed several exaggerated claims made in the post, starting with the assertion that Ripple owns 43% of XRP's supply. According to Morgan, this figure is inaccurate. Around 58.5% of XRP is in circulation, excluding what Ripple holds in escrow. Morgan also emphasized that Ripple's monthly sales from escrow constitute only a small fraction of the total market volume and have no significant impact on the price. In fact, evidence presented in the SEC lawsuit showed that Ripple took measures to support XRP's price, such as locking up large amounts of tokens in escrow to reduce market pressure.

Morgan further argued that if there were any evidence of price manipulation, the SEC would have used it in their lawsuit against Ripple. The SEC's investigation spanned over 18 months, and the absence of such evidence in the court proceedings makes the suppression claims less credible. Morgan also noted that XRP's price has historically followed the broader crypto market trends, moving in line with Bitcoin and Ethereum. This pattern has remained consistent for the past four years, with no significant changes to challenge this trend.

In summary, while the social media post raised concerns about potential price suppression, legal expert Bill Morgan's analysis provides a more nuanced perspective. Morgan's clarification highlights the inaccuracies in the post's claims and underscores the importance of relying on factual information when discussing complex issues in the crypto market. The ongoing debate serves as a reminder of the need for transparency and accurate information in the rapidly evolving world of cryptocurrencies.