XRP price is determined by supply and demand, this was stated by Eri, who as of late pointed out these cases on X, immovably invalidating that XRP’s price can be artificially set. She stated that the price of an asset, such as XRP, is innately determined by market interest in the open market.
Decentralized crypto-assets like #XRP, cannot be "price set". Price is determined by supply & demand dynamics in the global open market, sometimes with Influence factors like trading, sentiment, adoption, news & liquidity.
The deceptive false price hype 👉shared by people who…
— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) September 12, 2023
Eri further featured the extra impact of variables like liquidity, trading, adoption, sentiment, and news in price developments. In any case, she exposed the possibility of a centralized price-fixing possibility.
She cautioned against misleading, fake price hype and bemoaned its unprecedented proliferation. The community has seen the rise of these hypotheses wherein some forces to be reckoned with accept that XRP is underestimated and its cost could be fixed to a higher rate.
A Developing Argument
Eri’s new assertions got mixed responses from a few fans. Notably, one community member investigated the chance of a price-setting situation, differentiating Eri’s perspective.
They pointed out a proposed speculative situation where a strong element, like OPEC, could choose to trade a barrel of oil for a particular measure of XRP, successfully “setting the price.”
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Responding to the assertion by a fan, Eri mentioned the possibility of such in affecting equilibrium, prompting an overabundance of supply. She featured the idea of arbitrage, stressing that price variations would be immediately taken advantage of. This double-dealing would eliminate the distinction, resetting the market.
Another XRP lover Khaled, introduced an alternative perspective, recommending that XRP’s price could be set in different ways, including a direct sale price from Ripple or a face value determined by numerous parties.
Not true.#XRP is a unique software product and it's price can be set in a couple of different ways for a couple of different reasons.
In one method a set sales price direct from #Ripple and in another a set face value which could be determined by a number of different parties.
— Khaled Elawadi.XRP (@KhaledElawadi) September 12, 2023
Eri countered with a triplet of facts, explaining the idea of XRP as the native digital asset of the XRP ledger and the absence of control Ripple has over it.
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Remarkable Example Cited By XRP Proponent
Adding significance to the conversation, Vandell Aljarrah, the pioneer behind Dark Swan Entrepreneur, offered an alternate point of view, imagining a future where XRP accomplishes a hearty and consistent value the same as to gold.
"Price Set" for #XRP means aiming for a robust and steady value akin to gold, not a stagnant one.
— Vandell | Black Swan Capitalist (@vandell33) September 13, 2023
He lined up with Eri’s appraisal of the organic market (supply and demand). Be that as it may, the Black Swan Entrepreneur has anticipated a surge as the market developed, on account of XRP’s covered stockpile of 100 billion tokens.
What’s more, another community enthusiast solidly countered Eri’s position, contending that a decentralized asset can certainly be fixed or pegged to a particular price or asset.
They accept this could emerge in the event that a centralized authority regulates the cycle, like the previous “gold window” of the Federal Reserve. This individual recommends that elements like the IMF or Ripple could act as such specialists.