The debate about whether Ripple has too much control over the crypto-currency, XRP, is now taking a new direction.
The XRP Community quarrels currently a stagnant and case XRP price. The cause of this is the monthly sales from the XRP Treasury of Ripple are when it comes to the opinion of the XRP Community. The company has about 55 billion XRP in a “Treasury” and is allowed to sell every month 1 billion XRP tokens. The community sees this as a betrayal and threatens to split the Ripple project, if their concerns are not allayed. Among other things, a Petition that was started by the XRP Community is designed to provide the company with the Dumping of the XRP to stop.
The Twitter users of XRP News asked Ripple to keep “remote” of XRP and wrote: “whatever Ripple is not doing, in order to expand the XRP Ecosystem, it is clearly not working. Ripple please you keep as far as possible from XRP. We don’t want your help. We want an independent Digital Asset for the people. Who agrees?“. David Schwartz, Chief Technology Officer of Ripple then stated that this will not happen:
I’m afraid we’re going to massively disappoint you.
— David Schwartz (@JoelKatz) September 7, 2019
Ripple owns about 60% of the entire XRP supply, and in the last few months was accused of the organization that its monthly Over-the-Counter sale of the Digital Assets has prevented a rise in XRP price. The Startup from San Francisco, said in the past that it used the funds to lead the Ripple business and to invest in companies that aim to strengthen XRP.
In the past month, a Petition with the title “Stop Ripple Dumping was” viral, claiming that the sales of the company’s XRP harm investors. The Petition, which now has about 3,500 signatures, calls on the company, the sale of his shareholdings to be set. The Petition is the idea of Crypto Bitlord, an Influencer with of 102,000 followers on Twitter. Ripple responded to the Petition, and told Bloomberg, that the sales of XRP to have no influence on the price.
“Ripple, for its part, fought on the increase. Programmatic sales of XRP “as a percentage of the volume and the actual supply rate of inflation were lower” than in the case of Bitcoin or Ether, – said in a statement on Friday. The volume was bound by the stock exchanges, reported trading volumes, and in view of the fact that some platforms have reported the volumes wrong, Ripple reduces the amount of XRP sales significantly,“ a Trend that is likely to continue in this quarter, the company said.
A further concern for XRP investors
How the Whale Alert, a Twitter Account reported to have been transferred 100 million XRP from the Wallet address for Ripple Labs and the Ripple co-founder Jeb McCaleb.
🚨 🚨 100,000,000 #XRP (26,322,440 USD) transferred from Ripple to Jed McCaleb wallet
— Whale Alert (@whale_alert) September 7, 2019
Many investors are worried because of this news that there could be a possible sale, if McCaleb sold all XRP. McCaleb has already been sold in the last few years, its massive XRP holdings. Ripple Labs had tried through a series of lawsuits and agreements to prevent McCaleb sold all XRP at once.
Jed McCaleb is currently the CTO of Stellar, one of the twelve largest Cryptocurrency by market capitalization. Previously, he also worked as the CTO of Ripple Labs. He left the company in 2013 to establish the Stellar Development Foundation. He is also the founder of the infamous Mt. Gox Bitcoin exchange, and launched the site in 2010 to allow Bitcoin to Dollar trade. Later, he sold the company in 2011 to Mark Karpeles, before d Mt. Gox in the year 2014zusammengebrochen is.
Featured Image: Blue Planet Studio | Shutterstock