Crypto Expert Refutes Claims of $100,000 XRP Transactions in Dark Pools
Crypto commentator Zach Rector has addressed claims made by influencer Jake Clover regarding XRP tokens being traded for $100,000 in “dark pools.” Rector refutes this, emphasizing that such assertions are misinformation and not reflective of actual market practices.
XRP OTC Deals Clarified
- Rector labels the claim as “a new round of misinformation and FUD.”
- He explains that “dark pools” refer to over-the-counter (OTC) desks, historically used for large transactions without affecting open-market prices.
- Ripple Labs has been conducting OTC transactions since 2019, which has not impacted XRP’s market price.
- The idea of a separate private version of the XRP Ledger with inflated pricing is a misunderstanding of Ripple's operations.
- Rector points out that XRP only exists on the public XRP Ledger, and any stress-testing models do not reflect real-world valuations.
- Institutions typically receive discounts on XRP rather than pay premiums; historical data shows significant discounts granted by Ripple to institutional partners.
- At press time, XRP was trading at $2.21.
