There is nothing that prevents Ripple selling its XRP. Anyone can sell an asset it owns. The issue is whether in the US it needs to register its sales and offers of XRP with the SEC. If Ripple sells XRP programmatically as it has in the past it does not need to register the sales… — bill morgan (@Belisarius2020)
Legal Debate: Ripple’s Rights To Sell XRP
Bill Morgan, a staunch defender of XRP, argued that Ripple has no legal constraints on “selling its XRP tokens except in the context of institutional sales.”
Responding to this, Morgan suggested that despite this public awareness, the past five years’ performance of XRP’s price indicates that expecting profits from Ripple’s efforts might not be “reasonable.” The XRP advocate further implied that those who bought XRP after the July 13th decision with such expectations might be “irrational or need help.”
Put on notice or not the price performance by XRP for the last 5 years suggests anyone who acquired XRP since the 13 July decision who thinks Ripple’s efforts are going to lead to profits from an increase in price of the asset does not have a ‘reasonable expectation’ and may be… — bill morgan (@Belisarius2020)
Ripple XRP Sale And Market Impact
Notably, the debate comes on the heels of Ripple’s recent of 80 million XRP tokens, valued at approximately $46.18 million, to an undisclosed wallet. This transaction, reported by blockchain tracking service Whale Alert, has ignited speculation in the XRP community.
Amid these developments, XRP’s market performance has seen fluctuations. The asset experienced a 1.5% decline in the past 24 hours, dropping its price to $0.566. However, over the past week, XRP has shown resilience, recording a 2.6% increase. The trading volume for XRP also saw a dip, falling from over $1 billion last Wednesday to $827 million in the last 24 hours.
Featured image from Unsplash, Chart from TradingView