Ripple’s CEO, Brad Garlinghouse has yesterday declared in an Interview with CNN International that Ripples influenced over-the-counter sales of XRP to the price of the third-largest cryptocurrency by market capitalization.
The price of XRP has fallen this year by 27%, while the price of Bitcoin has increased in 2019 to 175%. The large discrepancy led to a crypto influenzer called Crypto Bitlord created a Petition, calling on his followers to support him in the claim that Ripple stops to sell parts of its holdings of crypto-exchanges and institutions. So far, more than 3,500 people have signed the Petition. In the Interview, when asked about this, said Garlinghouse, that Ripple looks more dynamic than ever before, what concerns the people, the XRP for transactions use. He also pointed out that the long-term value of a crypto currency is derived from its Use.
As the largest single owner of XRP that it was not in the best interest of Ripple, to flood the market with the Digital Asset””. Garlinghouse also pointed to Ripples in the use of XRP as an Instrument for financing the development of the XRP Ecosystem.
I pointed out that we are the most interested party in the success of the XRP Ecosystem. We are very focused on our Use Case and how we can solve the problems with XRP? One of the things I’m enthusiastic about is that you invest a growing Ecosystem of other players see the cases in other application around XRP. […]
So Yes, Ripple has a lot of XRP. But we are very interested in the success of XRP. The accusations that we are Dumping, are not in our best interest to do that. We are clearly interested in a healthy, successful Ecosystem. And so we would never do that and have in fact taken steps to lock up the largest part of the XRP, we have, in Escrows. Basically, we can’t touch it.
While he talked about how much control Ripple has over the price of XRP, he said, that Ripple is, as the largest owner of XRP an interested party in the success of XRP, and that in spite of all the accusations of the Dumping of XRP in the network is not something that is in your best interest.
Ripple can’t control the price of XRP, as a whale-the price of Bitcoin. No one is able to manipulate XRP prices. Some of these markets, in particular, smaller tokens, which have a lower market capitalization and lower currents, so if you want to run the risk that people will manipulate you. But you speak of XRP Trades in a size on the order of a billion dollars a day of activity, according to CoinMarketCap. So I don’t think anyone is in a position to manipulate these prices really.
Garlinghouse also spoke about how partners XRP from Ripple to buy at market value, sometimes great quantities are sold at reduced prices, with a lock that prevents you from discarding XRP in the network. He called on the investors to consider the Use of an asset, before you form an opinion or make a decision.
Day 4 of #crypto crazy week on @first move – PART 2 with @Ripple CEO @bgarlinghouse here pic.twitter.com/V2CWJH0fx6
— Julia Chatterley (@jchatterleyCNN) September 12, 2019
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