Bitcoin Forum

The price of XRP has been pretty stable for 2 or 3 months but has now dropped to levels not seen since 11/14.  Could this be Ripple selling XRP to pay their government fine?

lol no, its a company (with about 40 staff) and it sets theprice  to whatever it feels is right to sell the xrp's which did cost anything to produce and can be copied endless times over.
An xrp will never be yours they may allow you to hold some and thats about it.
The fine is loos change for them and nothing more than a Charade.

What do you mean Ripple Labs sets the XRP price?

Ripple isn't mined at all.  So Ripple Labs decides what they sell it for.

But there has to be a buyer willing to pay that price just like any other market.  Still confused.

Exactly what it says.
As it is a centralized company they have full control of the price. If they want the price to go up they simple dont dump for a day. Unlike Bitcoin where a set number of coins is mined a day and noone can say no new coins today.
Ripple has only one indention to know when, where, what cola you drank, where you have spent some money, when you farded, what you eat, what you earn, basically you end up being a marionette.

I'd estimate 90 employees and 5 interns.  But yea, definitely just loose change for Ripple Labs. Seems like they went quickest way possible by lobbying for a compliance level to officially be able to send their bloodthirsty sales force across the world like Matthew Mellon.




Even the marionettes get lucky sometimes...

LOL.  Wow if true...  That's like a corrupt third world country would do.  Tax its own people higher to pay for its debts (money that went in their own pockets).

What do you expect? Do you think they will be holding their coins forever? They just keep dumping slowly for years until their premine is gone and then the thing will be abandoned. Mark my words.
You need to look out in cripple to even be able to make a profit.

What does being a centralized company have to do with price control in this situation?  I'm not a centralized company but I can dump my holding and bring down the price too.  There are a set number of XRP (100 billiion).

Must be a huge holding :)

On the serious note though, bitcoinrocks is right, even if you are a centralized company it doesn't mean you are controlling the price.

I would say it's more like people dumping on the bad news of the fine and pessimissm about the short-term future.

I don't think they dump them directly on the open market, they sell them to re-sellers who can dump them if they want to.

Ripple Labs is a company. They have rules for the currency they issued. They also have investors, money, and that fine isn't something terribly big sum. Directly dumping would be only good for scaring away existing and potential partners and investors.

It's not Ripple Labs dumping. It's Jed McCaleb breaching his lock up deal. Cheap XRP while it lasts.

For fucks sake folks, cheap ripple while it lasts? I preffer to make no profit than making profit from that shit i dont know any other word to call it because its what it is, and if you buying ripple you are against all what bitcoin stands for, or atleast we the people stand for.