Revealing the truth about XRP price manipulation suspicions

The post Ripple News: Unraveling the Truth Behind XRP Price Manipulation Suspicions appeared first on Coinpedia

Ripple manipulating the price of XRP through bots has been a common topic of debate in the cryptocurrency industry. After the SEC took Ripple to court, accusing it of manipulating the price of XRP through bots, many of its supporters came out against it.

Sherrie, a cryptocurrency enthusiast and experienced debater, delved into the debate about whether Ripple manipulated the price of XRP through the “xrp 2t 6t bot” and GSR recruitment. Following her court filing, Sherrie gave her opinion on the matter for the first time.

Let’s take a look –

Understanding manipulation and causality

The main basis of Sherrie’s argument is causation and manipulation, and she begins her argument by distinguishing between manipulation and causation.

“What is manipulation? Simply put, it’s about handling situations skillfully.

What is causality? Simply put, it refers to an event or action that follows an event.”

In a clever reference to the metaphor of the falling apple, she emphasizes that manipulation requires skillful processing and causality refers to the natural outcome of events.

She then skillfully applies this to cryptocurrencies, setting the stage for deeper exploration.

“Market manipulation is illegal and Ripple does not do that.”

On the issue of manipulation, Sherrie cited instances where Ripple sold XRP and later repurchased it. She made it clear that these activities affect prices due to changes in supply and demand, but do not necessarily imply control over prices.

Focusing on economic concepts, she emphasizes that fundamental forces determine market prices.

Contrary to the manipulation claims, Sherrie declared the ‘fact’ that “Ripple does not manipulate the price of XRP.”

“After multiple audits and investigations of the business, the evidence and a federal judge have concluded that XRP follows Bitcoin,” she said, referring to the audits and findings.

Sherrie looked into the legalities surrounding market manipulation, citing specific regulations. She said, “At the federal level, the major operating regulations are the Securities Act of 1933, the Exchange Act of 1934, the Commodity Exchange Act of 1936, and finally… “It’s in Article 18 of the U.S. Code,” he emphasized.

In the end, the truth (according to Sherrie) remains the same.

“Market manipulation is illegal and Ripple does not do that.”