CEO Ripple: We can't control the price of XRP more than the whale of Bitcoin
The blockchain payment network CEO, Ripple, said the company did not want to "dump" the associated XRP cryptocurrency despite selling it in large quantities.
In an interview with CNN on January 5, Brad Garlinghouse added new discussion to the debate about Ripple's relationship with XRP, which has gone up 10% in the past 24 hours.
Garlinghouse: Ripple "can't control XRP prices"
"In the XRP community, Ripple is the biggest owner, and what I'm saying is that we are the most interested part in the success of the XRP ecosystem," he told the network.
Regarding the issue of how Ripple manages the property, Garlinghouse stated:
"Yes, Ripple has a lot of XRP, we are very interested in the success of XRP, but the accusations that we leave behind, that is not the best for us." We will never do that and, in fact, we have taken steps to block most of our XRP so we cannot touch it. "
The comments coincided with the movement of the Ripple market in 2019 and before. As Cointelegraph reports, the company has been selling XRP in large quantities for a long time, and last year it lost more tokens than before.
In early 2020, the company launched one billion XRP, worth about $ 200,000, of bail as part of the planned operation.
Meanwhile, XRP itself reached a minimum of more than two years in December, falling below $ 0.20 and at a trading point 96% below its historical high of $ 3.40. The recovery, which includes a 9% increase in the past 24 hours, has sent XRP / USD back above the $ 0.20 barrier.
Garlinghouse continues to be surprised. Although Ripple participated symbolically, he strongly denied that the company could influence the price of XRP.
"Oh, no," he protested when asked about the possibility, comparing the situation with the main Bitcoin (BTC) investor:
"Ripple cannot control XRP prices more than whales can control Bitcoin prices."
Large XRP buyers "hypothetically have limits"
However, he said, Ripple will not respond well to other large investors who have most of the XRP supply. However, in what seemed like a desire to influence the market, Garlinghouse positioned Ripple as the main token holder that survives in the future.
"There are times when we work with institutional investors or we can say," Hey, we want to buy $ 10 million XRP, "and we will have a blockage to prevent them being thrown to the market," he continued.
In conclusion, the executive said that such an intervention was "hypothetical":
"We don't want the other party to buy XRP in large quantities and throw it on the market, so we will hypothetically have limits on what they can sell and how often, and they generally depend on volume in the market."
source : cointelegraph.com
