Interviewed by CNN yesterday Ripple's CEO, Brad Garlinghouse, could not help but return to the constant controversy that see the community accusing the company of the collapse of XRP quotations; the controversy, as is known, concerns the fact that on a monthly basis the R3 consortium unlocks something like a billion tokens from its accounts, destined, say detractors, to end up sold on the markets with the intent to finance ripple at the expense of those who invested in XRP.
There was no point in demonstrating, as has been done on several occasions, that the bulk of the tokens that are unlocked then return to the company's accounts, nor the objectively solid logic with which Garlinghouse himself explained, more than once, that being ripple the main stakeholder of XRP there is no interest in depressing the price.
During the interview with CNN Garlinghouse he then pointed out that the alleged ripple ability to manipulate the market is equal on paper to that of bitcoin whales, alluding with this to the fact that, even if desired, it could hardly be possible. successfully manipulate the market given the amount of volumes traded.
XRP, we remind you, is the third cryptocurrency by market capitalization and every day it trades no less than 400mln of dollars, consequently the billion tokens unlocked every month (at the current exchange rate about 300mln of dollars) even if they were poured entirely on the markets they represent a amount too small to be able to produce any significant effect on the price trend.
However, none of these evaluations seemed capable of curbing the controversy, not even the umpteenth closing of a new round of financing for 200 million dollars has put an end to the discussions on social media; clearly it is not clear why a company that has just received 200mln of financing should sink itself and its credibility by selling its tokens with low hands until it depresses the price.
Besides all this, not even a week has passed since the analysis sites have informed us that a new 1 billion tranche of XRP has been unlocked by the ripple accounts which, just as I write, the price of the coin has jumped by 10% ; if the accusations made against ripple made any sense not only would there not have been such a jump but the price would have had to drop under the weight of ripple sales, which instead did not happen.
It is not the first time that, just in conjunction with the release of 1 billion tokens from the ripple accounts, the price of XRP sees an explosion of bullish volatility, but even this does not seem to be enough to curb the controversy; as we have already had occasion to support in several other articles, therefore, the continuous interventions of the CEO of ripple, and of other important figures in the corporate hierarchy, are completely useless, the controversies will stop only when the price of XRP will have a real reversal and will return close to its historical maximum (just over $ 3) and will probably return to animate the discussions on social networks as soon as the price returns bearish.
