Ripple Doesn’t Control XRP Price Movements: Expert Reiterates

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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.

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.

Enter another voice, hinting at conspiracy theories about Ripple’s market strategies.

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.

Bill Morgan Sets the Record Straight

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.

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… https://t.co/8BBsxnxplJ

— bill morgan (@Belisarius2020) April 7, 2024

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.

How XRP Is Faring Amidst it All

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.

But as of price time, it was still worth $0.59.