When Ripple Labs released its Q1 market report, where they disclose how much Ripple (XRP) they have dumped that quarter, they claimed to be “disciplined and responsible stakeholders” since they only dumped $1.75 million of Ripple (XRP) in Q1 2020. However, as pointed out by Crypto.IQ, Ripple Labs had already crashed the market by going on a massive hundreds of millions of dollars Ripple (XRP) dumping spree since 2017, and the only reason they had to stop in Q1 2020 is because the market would have went to zero if they kept up with the aggressive dumps.
Lo and behold, now that the crypto market is showing signs of life, Ripple Labs has once again rapidly accelerated their dumping. In Q2 2020 Ripple Labs dumped $32.55 million of Ripple (XRP).
This is only the beginning of a new Ripple (XRP) dumping spree. The crypto market wasn’t even doing well in Q2, it was stagnant at best, yet Ripple Labs re-started their scheme to reap personal profit by selling off large amounts of Ripple (XRP) at the expense of everyone else who holds Ripple (XRP).
As of the beginning of Q3 the Ripple (XRP) market is finally rallying, with the price of Ripple (XRP) rising from $0.18 to just over $0.30. Amid a bullish Ripple (XRP) market, there is no doubt that Ripple Labs will go back to dumping as much Ripple (XRP) as they can, probably $100 million or more this quarter.
Considering this, crypto investors should continue avoiding Ripple (XRP) like it’s the plague, since there is no doubt Ripple Labs will be suppressing the market and taking money out of the pockets of all other Ripple (XRP) investors.
Indeed, Ripple Labs still holds 55 billion out of the total of 100 billion Ripple (XRP), so centralized dumping will continue for the foreseeable future, and this dumping will be particularly intense during times like this when the market is bullish.