An XRP army has started a petition demanding that Ripple stop selling (dumping) XRP on the market. The problem seems to be the fact that Ripple is dumping XRP in large quantities on a quarterly basis. Ripple holds a large amount of XRP and the company has been selling it off to inflate volume data to guide their actual selling.
XRP’s price is also affected, as the currency hit a new low since December 2017. Now, XRP trades for around $0.24. This might be explained by the fact that Ripple is selling these large quantities of the currency and basically dumping it on the market each quarter.
According to press, however, even after the petition has been signed and many investors signed up, it is unlikely that the company will change its manner of selling XRP.
The petition has been signed by more than 2,300 people so far. The user that has started the petition is called Crypto Bitlord.
This is what part of the petition says:
Its amazing this sort of behaviour is widely accepted in the crypto world. Sure we know that XRP is a solid coin with major potential but this needs to stop!
The statement also mentioned that the community now needs around 10,000 signatures to stop Ripple from selling XRP in such a way.
More about Ripple can be found here: