Many btc maximalists would disagree with you and say ripple is hoarding all the XRP and you say tenure are dumping.
Also when I bought into XRP I knew the supply was 100B. That has never changed. Other pinks that create toxic debt promissory nites continue to bloat their share structure. Ripple can’t do that with XRP as no more can ever be created.
So every day that the use of xrp grows (and it is growing every day) means the supply has been shrinking.