Jerry Hall, a pro-XRP crypto YouTuber, believes that the price of XRP has been suppressed for years. Hall’s belief stems from his observation of Ripple’s regular practice of selling XRP into the market to fund its operations.
Hall contends that Ripple’s actions conflict with the interests of XRP holders, as they essentially finance Ripple’s business without receiving any corresponding support.
Hall’s opinion aligns with the results of a poll conducted by Jungle, a prominent figure in the XRP community. The poll found that 82.9% of respondents believe XRP’s price is suppressed.
The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) may also contribute to XRP’s price suppression. The SEC lawsuit alleges that XRP is an unregistered security, which has cast doubt on the token’s future.
Despite the price suppression, XRP remains a popular cryptocurrency with a strong community of supporters. Many believe that XRP has the potential to experience significant price growth once the SEC lawsuit is resolved and Ripple’s market sales are reduced.
It is important to note that everyone in the XRP community does not share Hall’s opinion. Some believe that XRP’s price is not suppressed and its current valuation is fair. Additionally, the SEC lawsuit still needs to be resolved, and it is uncertain what impact it will have on XRP’s price in the future.