Cryptocurrency News Today: XRP bag holders are begging Ripple to stop dumping its coins
We know cryptocurrencies are subject to wild price fluctuations, sometimes at the drop of a hat. Sometimes whales dump coins causing prices to drop, and one of the biggest XRP whales, Ripple, XRP is being asked to stop dumping. Of course this will work.
A Change.org user going by the name of Crypto Bitlord started a petition earlier this month asking Ripple to stop dumping its XRP holdings. So far it’s been signed nearly 2,500 times.
“Ripple continue dumping billions of XRP on us, crashing the price!” the petition reads.
It seems Crypto Bitlord genuinely believes in XRP as a ‘Cryptocurrency,’ calling it “a solid coin with major potential.” They later go on to refer to the XRP as a “quality coin.”
The petition’s owner is taking issue with the fact that Ripple, one of XRP’s biggest holders, is dumping coins and driving the price down.
“The only logical explanation is that Ripple are dumping on us. And not small amounts either. Literally billions. We have seen the reports of them disclosing this so it’s a fact,” they added.
It seems all they want is for XRP to reach its all time high prices that were seen during the 2017/2018 bull run. In January 2018, XRP traded at over $3 per coin, it’s now trading around $0.30 per coin.
“If they stop selling, its more likely the strong demand for this quality coin will naturally pump the price back to ATH and beyond!”
Back in July, Ripple‘s Q2 report disclosed that the company had sold $106.87 million and $144.64 million worth of