XRP Price Is Up 24,000% Despite Years of Ripple Selling — So Why Are People Still Calling It a Dump?

A viral thread alleging that Ripple systematically dumps hundreds of millions of XRP on its own holders every month to fund company operations has reignited one of crypto’s oldest debates.

The argument laid out a detailed case against Ripple’s tokenomic structure. The main claim was when XRP launched in 2012, 100 billion tokens were created at genesis. Founders kept 20 billion and handed 80 billion to the company. In December 2017, Ripple locked 55 billion XRP into smart contracts releasing 1 billion per month, of which Ripple typically relocks 70 to 80% and keeps the remainder, roughly 200 to 300 million XRP, to fund operations.

At current prices, that monthly retention is worth approximately $400 million.

“The bull case for the last decade has been “banks are coming”. Ripple still holds around 39 billion XRP in escrow, roughly 39% of total supply Every holder of XRP is being slowly diluted by the company itself, by design, on a monthly schedule that’s written into the blockchain XRP is now down 6 consecutive months,” the post read.

Morgan’s Response

It drew an immediate rebuttal from lawyer Bill Morgan. Morgan rejected the dump theory’s central premise on logical grounds.

“This fool thinks XRP price fell over the last six months because Ripple sells XRP each month,” Morgan wrote. “But even he recognises that Ripple has been selling XRP for many years, so he cannot explain XRP price increases even in months when Ripple sells XRP, nor the overall huge increase in its price since 2013.”

His counter-argument is that XRP price movement correlates primarily with Bitcoin rather than Ripple’s monthly sales activity. If consistent selling were truly suppressing price, that suppression would have been visible across every cycle. Instead, XRP has posted significant gains during periods of identical selling pressure.

Morgan added a long-term framing that other community members echoed. XRP is up 24,602% since Ripple began selling it thirteen years ago. Ripple now holds approximately 33% of total supply in escrow, down from significantly higher levels, meaning the theoretical selling pressure decreases over time rather than compounding.