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  • Lilly Mackani

Ripple CTO Faces Allegations of Price Manipulation


Ripple's Chief Technology Officer (CTO), David Schwartz, found himself in the midst of a storm on February 18 as he addressed accusations of price manipulation concerning XRP sales. With concerns escalating over Ripple's handling of XRP and its impact on the token's value, Schwartz took to X to vehemently deny the allegations and shed light on the company's actions.

 

To clarify Ripple's stance, Schwartz pointed to the cessation of programmatic XRP sales in Q1 2023, as outlined in their Q1 2023 XRP Markets Report. He emphasized the company's continuous efforts to minimize any potential impact on the token's price resulting from such sales.

 

Despite Schwartz's explanations, allegations persisted, with X user @GenesisLedger asserting that Schwartz had misled the community by claiming to halt programmatic sales, despite a significant decrease in Ripple's XRP holdings in Q4 2023.

 

In response, Schwartz attempted to clear the air by distinguishing between "programmatic sales" and "sales in connection with ODL." He clarified that programmatic sales involved selling XRP on exchanges to enhance liquidity, while ODL sales constituted part of Ripple's payment services, utilizing XRP as a bridge currency for global transactions.

 

During this controversy, a significant whale offloaded 28 million XRP to a cryptocurrency exchange in Luxembourg City, causing a temporary decline in XRP's value to $0.53. The transaction, conducted by an unidentified wallet address, r4wf7enWPx…5XgwHh4Rzn, sparked notable market movement. However, despite the massive offloading and the allegations of price manipulation on X platform, XRP stood firm at $0.55.

 

Amidst this backdrop of controversy, a rising star emerged in the cryptocurrency space – CryptoTradingFund (CTF). This platform distinguishes itself by offering retail investors the opportunity to generate passive income simply by holding the CTF Token. The token's value surge and rapid adoption underscore the dynamic and volatile nature of the cryptocurrency market.

 

What sets the CTF Token apart is its unique feature of real-time wallet growth, where each transaction contributes to the expansion of token holdings. This feature provides a straightforward path to passive income for investors, making it an attractive option in the crypto landscape.

 

Since its recent launch, the CTF Token has witnessed phenomenal growth, with a nearly 150% increase in wallet holders and an astonishing 4000% surge in value. CryptoTradingFund's official Twitter page proudly showcases the growing community and the token's potential to generate passive income for its holders.

 

As Ripple's CTO addresses allegations and the cryptocurrency market experiences shifts, CryptoTradingFund's remarkable success becomes a noteworthy point of discussion, highlighting the ever-evolving and dynamic nature of the crypto landscape. Investors are now presented with an intriguing choice – navigate the controversies surrounding established players like Ripple or delve into the promising world of CryptoTradingFund.



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