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Ripple “Whale” moves the market – is the market cap fake?


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Ripple

Ripple is definitely one of the most interesting cryptocurrencies out there. The most recent “news” is that a Ripple “whale” has moved the market big time. The whale is the company itself, Ripple. It has moved somewhere around $300 million of XRP coins from one of its accounts to another one. More interestingly though, the transaction included the words: “Crawl…Walk…Run”. Rumor has it that the company has locked in around $80 million of the entire sum.

Ripple, the company, retains a huge portion of the total XRP supply – reportedly around 60%. In the past year, somewhere near $600 million of XRP was sold by Ripple. The major buyers were crypto exchanges and large corporate institutions. What many believe Ripple is doing is artificially boosting the price of the digital coin by exploiting the “pump-and-dump” strategy.

What is more, it is rumored that Ripple is artificially boosting the market cap. According to Crypto Daily and a research published by Selkis, Ripple is actually adding thousands of XRP into the main supply out of thin air. There is no reliable information regarding the data, says the report.

While Ripple is now adopted by many financial institutions, many are asking the following question: Is Ripple really decentralized or centralized, taking into consideration the fact that the company holds around 60% of the total XRP supply?

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Ripple “Whale” moves the market – is the market cap fake?

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