Ripple News: Examining the Allegations of XRP Price Manipulation
The issue of Ripple allegedly manipulating the price of XRP through bots has sparked a heated debate in the crypto community. Supporters of Ripple have been outspoken against these allegations since the SEC’s court filing. One crypto enthusiast and experienced debater, Sherrie, has taken the lead in discussing this matter and expressing her opinion.
Sherrie’s main argument revolves around the distinction between manipulation and causation. Manipulation, she explains, involves the skillful handling of a situation, while causation refers to the natural outcome of an event. To illustrate this point, she cleverly draws an analogy with a falling apple.
Applying this concept to the crypto market, Sherrie asserts that market manipulation is illegal, and Ripple is not engaging in it. She refers to a case where Ripple sells and later rebuys XRP, acknowledging that this activity does impact the price due to changes in supply and demand. However, she argues that it does not necessarily indicate control over the price.
Sherrie emphasizes that market prices are determined by fundamental forces and economic concepts. To support her claims, she cites the outcomes of audits and investigations into Ripple’s business, which concluded that XRP follows Bitcoin. She also delves into the legalities surrounding market manipulation, citing specific regulations in the 1933 Securities Act, 1934 Exchange Act, 1936 Commodity Exchange Act, and Title 18 of the U.S. code.
In Sherrie’s view, the truth remains the same – market manipulation is illegal, and Ripple is not engaging in it. This conclusion is based on the evidence gathered from audits, investigations, and compliance with relevant regulations.