Ripple also talked about allegations against the company in detail. It said that FUD and misinformation against the company went up during the quarter. Ripple was blamed for dumping XRPs on users and manipulating prices. Note that Ripple’s price decreased while most other prominent digital currencies faced a bull period during the year.
The company cited research from Indiana University, which pointed to increased activity from bots on Twitter, which amounted to 50% conversations about XRP on the platform. It said that dumping allegations against the company increased during the period with tweets from bots including the phrase “flooding the market” and “dumping XRP” increasing by 179%.
It clarified that most large movements being talked about are simply transfers between escrow and treasury accounts of Ripple itself. It also suggested that XRP whales may exist, but they are not working differently from BTC or ETH whales.
It also clarified that Ripple doesn’t control the price of XRP as it is a token traded on independent markets. XRP doesn’t need Ripple to exist as it is an open-source public ledger.
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