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Speculation Strikes XRP As Rumours Suggest Market Cap Is Fake

Speculation Strikes XRP As Rumours Suggest Market Cap Is Fake
Breaking News / Ripple

It seems like there is new Ripple news surfacing every day and today is no different. Similar to past transactions, Ripple has just moved more than $300 million worth of XRP from one of its several escrow accounts to an unknown place. The transaction had the message “Crawl… Walk… Run ;)”. It is rumoured that the firm has locked $80 million worth of the total transfer.

In 2018, there was around $535 million worth of XRP was sold by XRP, many of its buyers being institutions and exchanges. The consistent sales of XRP are now believed to be an attempt at pumping the XRP price and dumping it when the price surges. There is a possibility that this is true because Ripple retains about 60 percent of the total XRP supply from which it sells the bits noticed by those who keep an eye on the crypto whales.

In addition to this, there have been numerous rumours surrounding the price of Ripple’s native token and one of the people at the front of these rumours is the CEO of Messari, Ryan Selkis. As Selkis believes, Ripple has been lying about the XRP market cap by exaggerating its truth. There have been several reports published by Selkis, one of which claims billions of XRP are being added to the supply out of thin air and the company doesn't provide reliable market information through its XRP data API.

In a recent Twitter poll aimed for getting the public opinion, a user with the handle @MrLedson asked his followers which cryptocurrency will see the biggest gains in 2019 among Holo, TRON, Ripple and Monero. Just under 2,000 people took part in the poll with Ripple (XRP) taking an astounding lead with 79 percent of the vote. Monero came in last with only 2 percent of the vote, TRON in third with 7 percent and Holo in Second with 12 percent of the vote.

One reader from ZyCrypto questioned the poll and commented:

“This is great, but the amount of nonsense pump and dump news that comes out about XRP suggests to me that a marketing team are trying to talk this up. No other coin constantly says their Coin will jump as much as XRP. And nothing ever happens.”

With Ripple still holding more than 60 percent of its native token, this is another reason why people claim that the project is centralised rather than decentralised.

What are your thoughts? Let us know what you think down below in the comments!

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