The post Ripple CTO Fires Back at XRP Critics, Here’s What Happened appeared on BitcoinEthereumNews.com.

Cover image via youtu.be Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Ripple CTO David Schwartz has responded to concerns alleging XRP price manipulation via Ripple XRP sales by an X user. Schwartz highlighted Ripple’s transparency, as evidenced by its escrow accounts. In the past week, there have been conversations on social media over the XRP price, with some members of the XRP community blaming Ripple for the token’s poor performance. Some of them stated that Ripple was dumping XRP onto the market. In response to these allegations, Schwartz clarified that Ripple had discontinued its programmatic XRP sales, citing Ripple’s Q1, 2023, XRP Markets Report. According to the article, Ripple has only continued to sell XRP in connection with ODL transactions. I can’t prove that there’s any particular explanation. But I think it’s because the primary drivers of the price of XRP come from factors external to the XRP ecosystem and common to XRP and XLM. I’ll give two alternative explanations that I don’t believe are correct, but that… — David “JoelKatz” Schwartz (@JoelKatz) February 19, 2024 In response to Ripple’s CTO comment, an X user asked if it was an “acknowledgement that prices were manipulated in the past.” Schwartz debunked this claim, stating that Ripple had always tried to minimize the price impact of its sales and that he did not believe that programmatic sales had any effect…

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Filed under: News - @ February 20, 2024 4:14 am