A member of the XRP community known as Sherrie said that Ripple XRP He sparked a controversy on X by countering allegations that he manipulated the price of his token. Sherrie responds to an accusation that Ripple is using trading bots to manipulate the price of XRP gave.
A 🧵 to understanding ‘manipulation’ versus ‘causation’
NEWS CONTINUES BELOWIf you’re interested in the facts then read on as it pertains to XRP.
*Important: I am using a screenshot from another individual not for the purpose to embarrass them so please be respectful by not naming (if you know)
NEWS CONTINUES BELOW— Sherrie 🌸 (@CherryEmpress21) March 6, 2024
Koinfinans.com As we reported, the allegations began when documents emerged showing that Ripple was using global crypto marker maker GSR’s trading bots for institutional XRP sales. Ripple’s CTO denied all these allegations, claiming that the company has stopped such sales.
Meanwhile, Sherrie continued to explain with an example: “Apple selling shares and then repurchasing some of them is not manipulation. Adding shares to the market causes the price to fall, but does not indicate that the price is controlled. Price is determined by Supply and Demand (Economics concept).”
However, Sherrie has put forward a convincing argument distinguishing between manipulation and causation in financial markets.
Cherry made an analogy to the force of gravity, explaining that manipulation requires an intentional effect, while causality arises from the natural consequences of market dynamics. For example, Ripple’s sales of XRP may affect prices. However, they cannot be described as manipulation because they follow the market laws of supply and demand.
Sherrie went on to explain that Ripple’s sales were not intended to control the price of XRP, but to raise funds through “dumping,” as most businesses do. According to him, after regulatory scrutiny and audits, Ripple proved its transparent business practices by winning against SEC allegations that the company sold unregistered securities directly on exchanges.
