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SOIL denies insider token sale claims amid XRP Ledger launch controversy

Market News
26 Jun 2026
Crypto news
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Bearish
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SOIL has rejected allegations that its token launch on the XRP Ledger involved insider sales using community liquidity as exit liquidity. An on-chain analyst claimed wallets linked to the issuer sold large amounts of SOIL tokens into XRPL liquidity, suggesting immediate dumping rather than organic market activity. SOIL responded that the wallets were bridge addresses, not controlled by the project, and attributed price moves to high demand and limited liquidity. The debate arises as SOIL prepares to adopt XRP Ledger's native lending framework pending protocol amendments.

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