Ripple Expert Challenges XRP Supply Shock Theory, Cites Bitcoin’s Influence
- Bill Morgan, a Ripple advocate, claims the XRP supply shock has no significant impact on its price movements.
- Morgan asserts that Bitcoin’s price trends are the predominant factor influencing XRP values.
- Currently, approximately 1.5 billion XRP tokens are reported to be declining on exchanges.
- Despite claims of diminishing supply, nearly 16 billion XRP remains available on exchanges according to validator VET.
- Since the launch of XRP ETFs in November, over $1.25 billion in net assets have been accumulated.
The ongoing debate around the XRP supply shock theory highlights contrasting views within the crypto community regarding market dynamics and liquidity. While some analysts predict a potential price surge due to ETF inflows and reduced selling pressure, others emphasize that Bitcoin’s performance is more critical for understanding XRP price behavior.
In summary, while discussions about an XRP supply shock continue, Bill Morgan maintains that Bitcoin’s influence remains the key driver of XRP pricing trends.(Source)
