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In a video released on Thursday, crypto commentator Zach Rector dismantled a viral claim—popularized by influencer Jake Clover—that XRP tokens are secretly changing hands for $100,000 apiece inside clandestine “dark pools.” Rector’s rebuttal aims to calm newcomers spooked by the rumor and to re-center the discussion on verifiable market mechanics rather than conspiratorial price-suppression narratives.
XRP OTC Deals Aren’t Market Manipulation
Rector opens the broadcast by calling the thesis “a new round of misinformation and FUD,” stressing that “institutions are [not] going to get XRP at $100,000 on the private ledger. That’s not happening.” He explains that what social-media accounts now label “dark pools” are simply over-the-counter (OTC) desks—private bilateral venues that large holders have used for decades in equities, foreign exchange and, more recently, digital assets.
“It’s nothing new or specific to XRP,” he says, adding that Ripple Labs has been off-loading part of its treasury via OTC since 2019 without depressing the open-market price. Indeed, XRP has “pumped tremendously since November,” Rector notes, even as Ripple distributed fresh supply to institutional counterparties.
Much of Clover’s allegation hinges on the idea that a separate, private version of the XRP Ledger (XRPL) carries its own price—orders of magnitude above the public market’s. Rector calls that notion a fundamental misunderstanding of how Ripple’s enterprise tooling works.
Central-bank or government pilots often ask for “private ledgers where they can keep messaging and transactions hidden from the public view,” he acknowledges, but those environments are permissioned sidechains or wrapped derivatives. “XRP only exists on the public XRP Ledger that we all use […]. Your XRP can never leave the XRP Ledger,” he states. If testers wanted to model a six-figure price for stress-testing purposes, “that’s not the real XRP, never was, never would be.”
To underscore the point, Rector cites Ripple chief technology officer David Schwartz, who “has already addressed this” and clarified that “there are not two prices of XRP.” Rector also invokes examples from other enterprise-focused chains—XDC’s hybrid architecture and Constellation’s Department of Defense “Metagraph” deployment—to show that privacy partitions are standard practice, not evidence of hidden liquidity at surreal valuations.
OTC Buyers Get A Discount
While some retail traders fear that Wall Street would happily pay an astronomical premium behind closed doors, Rector argues the economics are inverted: “Why would an institution pay $10,000 per XRP on the private ledger […] when it’s available on the public market for $2?” OTC desks exist precisely so that whales can accumulate “without moving the market,” not to overpay.
In fact, history shows that Ripple has often granted institutional partners a discount, not a markup—something revealed in discovery during the SEC vs. Ripple lawsuit. Rector reminds viewers that Ripple’s data set includes “over 1,700 NDAs” and that R3 once negotiated an option to buy five billion XRP “for a sub-penny” over three years, ultimately settling for a single billion when the broader partnership soured. None of those figures approach the six-figure fantasy.
At press time, XRP traded at $2.21.
Featured image created with DALL.E, chart from TradingView.com
Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.
His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
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For Jake, Bitcoin represents more than just an investment; it’s a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.
As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.
In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.
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