https://archive.org/web/

Source is from the way back machine.

What Ripple did was get Gliss (possible allegation of bribes?) to manipulate the number of available Ripple coins, even though well over 90%+ of Ripple has always been held by the developers.   

Since they control so much of Ripple (90%+ in actuality) they can pump and dump all day and manipulate the price too.