2024

Bitcoin

April

<p>The post <a href="https://coinpedia.org/news/ripple-doesnt-control-xrp-price-movements-expert-reiterates/" rel="noopener noreferrer nofollow">Ripple Doesn’t Control XRP Price Movements: Expert Reiterates</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The crypto community is a hive of speculation, analysis, and a fair amount of drama. Amidst this chaos, a tweet from crypto enthusiast Armando sparked an intriguing conversation. He pointed out XRP’s historic all-time high and hinted at a future where its potential could lead to even bigger market moves. Armando is bullish.</p>
<p>But then a skeptic jumped into the comments section, mentioning the increased supply of XRP and suggesting that Ripple’s market activities might weaken demand. They threw numbers into the mix, claiming a huge increase in XRP distributed to the market, sparking the old-time debate on whether Ripple is a puppet master controlling the XRP market.</p>
<p>Enter another voice, hinting at conspiracy theories about Ripple’s market strategies.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>The person stated, “Some folks are saying Ripple dumping is just a conspiracy theory,” and tagged Bill Morgan, who quickly steps in. Let’s just say, he’s not about to let misinformation spread without a fight.</p>
</blockquote>
<h2 class="wp-block-heading" id="h-bill-morgan-sets-the-record-straight"><strong>Bill Morgan Sets the Record Straight</strong></h2>
<p>Respected lawyer and crypto enthusiast Bill Morgan acknowledged, in no uncertain terms, that while Ripple’s actions in the market could influence XRP’s price, it’s far from the only factor at play. Comparing it to the oil market, where production can affect prices, he pointed out that the crypto market is much more complicated.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">I have never said it is a conspiracy theory. Obviously ripple selling a large volume of XRP into the market can potentially exert some downward pressure on price just as oil producers increasing oil production, can exert downward pressure on the price of oil per barrel if demand… <a href="https://t.co/8BBsxnxplJ" rel="noopener noreferrer nofollow">https://t.co/8BBsxnxplJ</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1777091421113291106?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 7, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Morgan is critical of the oversimplified view that Ripple’s market activities dictate XRP’s price movements alone. He highlights that XRP, like Bitcoin and Ethereum, moves in mysterious ways, often mirroring the broader market trends. Is the idea of Ripple single-handedly playing the market like a fiddle? According to Morgan, that’s a narrative lacking in evidence, a baseless theory that ignores the multifaceted nature of cryptocurrency pricing.</p>
<h2 class="wp-block-heading" id="h-how-xrp-is-faring-amidst-it-all"><strong>How XRP Is Faring Amidst it All</strong></h2>
<p>XRP’s journey on the charts has been like a roller coaster designed by Einstein – unpredictable and brain-twisting. After a long time in the red, it’s now showing signs of picking itself up, dusting off, and possibly gearing up for another of its market-defying surges. The SEC’s least favorite crypto is struggling to get back to the support level of $0.6.</p>
<p>But as of price time, it was still worth $0.59.</p>

Ripple Doesn’t Control XRP Price Movements: Expert Reiterates

Tabla de contenidos

CoinPedia News

Otros artículos publicados el 8 abr 2024

Terra Founder Do Kwon Accused of Fraud by SEC: LUNC Price To Crash to $0?

Genesis Converts $2.1 Billion Worth of GBTC Shares into Bitcoin to Settle Debts Amid Legal Challe...

Michael Saylor Issues Bullish BTC Call as Bitcoin Price Hits $72,000

Dormant Bitcoin Whale Springs Back To Life With $74M Binance Deposit

Primex Finance Announces Community Rewards Campaign With CoinList

Bitcoin Price Peaks Above $72K Pre-Halving, Swelling ETF Flows, Supply Crunch

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!