An XRP influencer, BABA, has taken a stand against the persistent allegations of Ripple dumping XRP on retail investors for the past seven years. In a recent tweet, BABA urged members of the XRP Army to embrace their “blacklisted” status and find pride in not succumbing to fear, uncertainty, and doubt (FUD) spread by critics.
Defying the Blacklist
BABA highlighted the irony of critics accusing Ripple of dumping XRP on investors while themselves being immune to any form of blacklisting. By reframing the narrative, BABA encouraged XRP enthusiasts to view their blacklisted status as a badge of honor, signifying resilience in their commitment to Ripple’s vision.
Good Morning
If you feel bad for being “blacklisted”
Always remember, on this day for seven years, people comment every month for the last 7 years, “Ripple is dumping on retail”
How come nobody blacklisted their nonsense?
Be Proud To Be Blacklisted ! pic.twitter.com/wJ1kPXZuJK
— BABA (@BabaCugs) September 1, 2023
The Reality of Ripple’s XRP Distribution
Contrary to the allegations, Ripple adheres to a well-regulated and predictable process of distributing XRP tokens in the market. On the first day of every month, the blockchain payment firm unlocks one billion XRP from its escrow account.
The escrow arrangement, initiated in 2017 with 55 billion XRP, ensures the release of one billion XRP. However, Ripple often relocks about 80% of the released tokens a few hours after the whopping transaction.
Ripple’s Impact on XRP
Recent events, such as the unlocking of one billion XRP and a subsequent significant transaction of 20 million XRP to Binance, had an impact on the price of XRP, according to a crypto-focused account on X.
However, industry insiders still anticipate a potential bounce-back. Over the past 24 hours, XRP has experienced a 4% decline in value, with a trading volume of $1,172,503,248.
🔊
Whale transfers 19.92 million $XRP to Binance
This happened after Ripple unlocked 1 billion $XRP (over $500 million) from escrow on Friday.
Temporary downside in price due to an increase in supply, but recovery is likely.
Stay safe. #DYOR pic.twitter.com/YlbeUzgLnB
— dyor exchange/features (@dyorexchange) September 1, 2023
Ripple’s Expanding XRP Sales
While defending against dumping allegations, it is essential to acknowledge Ripple’s increase in XRP sales. Ripple’s monthly XRP sales have surged by 37% compared to the previous year. The firm currently holds 47 billion XRP, with 41.9 billion XRP secured in escrow, as disclosed in its most recent quarterly report.
In conclusion, as Ripple faces ongoing accusations of dumping XRP, supporters like BABA encourage the XRP Army to embrace their blacklisted status as a testament to their unwavering trust in the company.
Ripple’s transparent XRP distribution process, including regular escrow releases and subsequent relocking, aims to dispel the notion that XRP is being dumped on retail investors.
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