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XRP MARKET CAP FAKE

XRP MARKET CAP FAKE

Source: Cointelegraph.com

Who would have thought Ripple XRP marketcap is could be fake? Really? is this like how Cryptopia lie to everyone and went from a $2.5 million to over $16 million lost on the hack?

Well a recent post from Cointelegraph, one of my daily morning crypto news site, inform the internet that based on a recent report from crypto analytics Messari, XRP market cap could be off by just a hair of $6 BILLION, with B no with M.

Who would imagine that XRP is manipulating the information and this will not be the first or last time that Coinmarketcap.com will lie to us, based on this report XRP market cap could be overestimated by 48 percent setting XRP back to a good $6.9 BILLION instead of $13 BILLION reported by your good old trusty friend CoinMarketCap.com

by Messari:

“In addition to the 59 billion XRP held on Ripple’s balance sheet… there could be significant, persistent sell-side pressure in the XRP market depending on the length and structure of selling restrictions placed on Ripple’s market making partners, a Ripple affiliated foundation, and Ripple’s co-founders, all of which appear to have negotiated rate limits for sales based on exchange trading volume of XRP.”

This wont be the first or last time a crypto project takes its community by a fool but if this is expose the right way and force XRP to admit it, that they have been manipulating the information, in my opinion this could be the second biggest scandal in crypto after Bitconnect.

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