Twitter user under nickname Crypto Bitlord filed a petition on the website Change.org, where he called up Ripple to stop “dumping” to the market tokens, belonging to XRP company – investment platform got to know.
“Ripple makes great pressure on XRP price, selling milliards of coins, – he writes. – I cannot understand, how this unscrupulous behaviour can be accepted in cryptocurrency world. It`s well known that XRP is a good high tech coin, which has large potential, but actions of its issuer should be stopped!”
The author resents that every day Ripple announces news about partnership with another bank, but XRP rate continues falling.
“There is only one logical explanation for this phenomenon – Ripple always sells its coins to common users like us. And we don`t talk about small parts, it`s about milliards”, – the author of the petition adds, referring to published report of the company.
“Just fancy the world, where Ripple doesn`t have such a negative impact on pricing. We all know, what will happen in such a case – the price will grow. We will pump and pump. Like it was in good old days… If they stop artificially overstate market offer, the rate will reach its historical maximum or even higher by natural way”, – he concluded.
According to the latest data, the petition was signed by 750 persons. But the author claims that it`s necessary to collect 10 000 signatures.
The other day Coinshares presented a semi-annual report about condition of cryptocurrency market, where XRP was called “the worst investment in the first half of 2019”.
Cryptocurrency Ripple was launched by Ripple Labs company in 2013. Wherein, of 100 milliard of XRP initially were put into circulation just 40 milliard. For rate supporting developers “froze” other XRP with the help of simple smart-contract, releasing them by small parts for several years.
In May 2017 Ripple in the second time froze 55 milliard of XRP on escrow accounts, with unlocking of 1 milliard coins every month. In such a way, now are free 27 milliard XRP, and complete sum will be available by the end of 2021. Of course, the company doesn`t have to bring all these coins to the market, and so far it has been spending them in fairly moderate portions. Apparently, now this process has accelerated, but even if it stops for a while, the very possibility of a massive sale of coins will constantly put pressure on the market.