People keep buying it after the “big partnerships'” and it keeps just dumping down.They’re clever, though. Many of the dumps are hidden in BTC rises.
…allowing 750m XRP to be sold every year Increasing to 1 billion in 2020 and 2 billion in 2021
The current market seems to be largely driven not by organic buying and selling, but by exchange driven manipulation of the spot market to exploit the current dynamics of leverage trading. Since the exchanges know the characteristics of the outstanding shorts/longs, and since volume is low after these pumps or dumps leading to sideways drift, they can essentially engineer movements in price that create income in terms of liquidations. When there are lots of overleveraged shorts, an exchange can pump the price with bots briefly and collect the short position. Same with longs but in reverse, a quick burst of selling pressure.
“@SaitoKami Biggest scam is #nuke creating fud to cause panic, I believed so Much in the project and lost huge amount to your fud… Biggest scam with crappy psychotic team…#nuke is worst than $CLM”
When the fork happened, everyone got their own coins copied into the new community fork, including Ripple Co. Instead of dumping 500 million XRP at a time Ripple HQ officials were happy to announce that they will now be dumping 1 billion at a time, equal parts original and forked XRP.