You are viewing a single comment's thread from:
RE: RIPPLE (XRP) Is Becoming a PROFIT TSUNAMI!! Target $4.11 (200% Profit Potential)
Yes, I agree to a certain extent on the manipulation subject. HOWEVER Ripple opposite to many altcoins is not a decentralized transaction system, it is highly centralised, meaning that the majority of Ripple coin are held by the creators themsleves. When you have a centralized coin and not a highly distributed coin such as bitcoin, the majority of price flactuation depends only on a few actors, in Ripple's case the creators themselves thus its in their interest to keep the price stable
You obviously do not understand XRP and the company. In November to remove exactly this kind of comment - they locked up all 48B available tokens in Smart contracts - each of which Vest every month (1B coins) for the next 48 months. They have already made a public statement that they will not use these to control price action - they are only for spending for funding the business and the growth of their XRAPID network. Any that are not spent are locked back up in contracts that tag onto the end of the 48 months i.e. it is a rolling 48 months. I can not find the December number - but in November (the first month) they only used 320M tokens and put the rest back into a smart contract
55* Billion