Ripple manipulating XRP price through bots has been a common debatable topic in the crypto space. Ever since the SEC’s court filing accusing Ripple of manipulating its XRP price through bots, many supporters have spoken against it.
Sherrie, a crypto enthusiast and an experienced debater, has delved into the discussion of whether Ripple through the “xrp 2t 6t bot” and the employment of GSR, has manipulated XRP prices. Ever since the court filing, Sherrie is the first to place her opinion on this matter.
Let’s have a look at it –
Understanding Manipulation vs. Causation
Sherrie’s main base of argument is causation and manipulation and initiates the claims by distinguishing between manipulation and causation.
“What is manipulation? Simply put, it is the handling of a situation in a skillful way.
What is causation? Simply put, the action that follows an event or occurrence.”
Witfully referencing the analogy with a falling apple, she highlights that manipulation involves skilful handling, while causation refers to the natural outcome of an event.
Skillfully, she then applies this to crypto, she sets the stage for a deeper exploration.
“Market manipulation is ILLEGAL, and Ripple isn’t doing it.”
Addressing the manipulation questions, Sherrie referred to a case where Ripple sells and later rebuys XRP. She clarifies that this activity does impact the price due to changes in supply and demand, but it doesn’t necessarily indicate control over the price.
Focusing on economic concepts, she highlights that fundamental forces determine market prices.
Contrary to manipulation claims, Sherrie declared the ‘Facts’ – “Ripple is NOT manipulating the price of XRP.”
She referred to the outcomes of audits and investigations, asserting, “After multiple audits and investigations into the business, it was determined by evidence and a federal judge that XRP follows Bitcoin.”
Sherrie dove into the legalities surrounding market manipulation, citing specific regulations. She emphasized, “On a federal level, the key manipulation regulations are in the 1933 Securities Act, 1934 Exchange Act, 1936 Commodity Exchange Act, and lastly… Title 18 of the U.S. code.”
In the end, the truth remains the same (as per Sherrie).
“Market manipulation is ILLEGAL, and Ripple isn’t doing it.”
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