Ripple News: Unveiling The Truth Behind Controversy On XRP price Manipulation

The controversy behind Ripple’s alleged XRP price manipulation through bots has been the target of the spotlight in the cryptocurrency

Written by: Sophia Cruz • Friday, March 8, 2024 • 1 min read

The controversy behind Ripple’s alleged XRP price manipulation through bots has been the target of the spotlight in the cryptocurrency market.

Unveiling The Truth Behind Controversy On XRP price Manipulation

Ever since the SEC court filing accusing Ripple of using bots to manipulate XRP price, supporters of XRP have expressed their opposition toward the issue. Sherrie, a crypto enthusiast, and experienced debater has been watching Ripple’s actions, particularly the “xrp 2t 6t bot” and its involvement with GSR, allegedly manipulating XRP prices.

With a primary insight into this matter, Sherrie is keen to share her findings and shed light on the issue.

Statement on Manipulation vs. Causation

Sherrie’s initial argument aims at causation and manipulation as she begins by identifying the difference between causation and deliberate manipulation.

“What is manipulation? situation Simply just, it is the put of a action in a skillful way.

What is causation? party incidence, the falling that follows an requires or managing.”

Sounds clever, but analyzing the proverbial apple, she explains that manipulation entails deliberate actions to achieve a particular outcome. While causation pertains to events that naturally lead to a result, often without intention.

Applying this definition to crypto, she sets the stage for a deeper exploration.

“Market manipulation is ILLEGAL, and Ripple isn’t doing it.”

To address the manipulation issue, Sherrie referred to a case where Ripple sold and subsequently repurchased XRP. Explaining that while this practice does influence the price by altering supply and demand dynamics, it doesn’t necessarily mean that the price control is being manipulated.

Highlighting the economic principles, she further explains that market prices are determined by fundamental forces.

Looking at the manipulation allegations, Sherrie has already presented the ‘Facts’ that Ripple is not manipulating the XRP prices.

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ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.