Ripple has been coming under fire for what most investors believe to be dumping. Ever so often, the company will release XRP and sell to fund operations. This has the power to affect prices as huge amounts will lead to oversupply and less demand. Now investors believe that Ripple has been doing this too often and vigorously. They believe the poor performance by the coin in 2019 stems from it. XRP, the third-largest altcoin by market, has been performing poorly compared to its peers like Ethereum and Litecoin.
In consecutive quarterly reports, it has been clear that the company has been releasing billions of XRP. This has potentially flooded the market with XRP and negatively affected its price. The situation has become so serious that over and above investors signing a petition to stop Ripple dumping, they have threatened to hard fork XRP.
Towards the end of last month, one disgruntled investor took it to the next step. Crypto Bitlord threatened that he was considering implementing an XRP hard fork. The investor was calling on other investors who shared his opinion before pushing through with it.
What Can Ripple Expect And Do To Keep Investors?
This could potentially affect Ripple with many of their investor’s jumping ship and joining the new coin created. Fortunately, many of those who have invested in XRP are big fans of the project. The project, which is also a company, has a great structure and is known to deliver on promises. Very few would participate in the hard fork making the whole thing unlikely.
However, although the hard fork is unlikely, Ripple must not ignore the fact that a majority of their investors are unhappy. In the next couple of months, they will have to ease up on the dumping until at least until when prices are performing well. The asset is still more than 80% below its all-time high. This means stability and development are needed most to ensure long term success.
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