Bill Morgan has clarified that Ripple is not suppressing XRP sales
its reply letter in support of its motion to seal documents in connection with the U.S. Securities and Exchange Commission's motion for judgment and remedies. The company has stated that it is no longer selling XRP tokens through over-the-counter transactions.
"Ripple's current sales of XRP to customers for use in connection with Ripple's ODL product do not have any of the relevant terms of the over-the-counter contracts, such as discounts offered to sophisticated counterparties," the letter says. the aforementioned statement as a"crushing blow" to those who push fear, uncertainty, and doubt that the company routinely suppresses the price of the XRP cryptocurrency by dumping tokens on retail investors.
In the letter, Ripple also insists that its current financial statements are irrelevant to the court's analysis since the company is not arguing that it will not be able to pay potential fines and penalties., the SEC is seeking to compel Ripple to provide information concerning its sales, revenues as well as current assets. However, the defendant claims that revealing such sensitive details might hurt its business endeavors.
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