Ripples $5 Billion XRP Buyback Rumor Explodes on Social Media

By Lola Coin Jun 26, 202374Views

There have been rumors circulating in cryptocurrency communities that Ripple, a popular digital currency, is planning to buy back 10 billion XRP tokens worth nearly $5 billion. However, John Deaton, a lawyer representing XRP holders, expressed skepticism and stated that he would only believe the rumors if Ripple confirms it. Despite the skepticism, the rumors quickly spread throughout social media. David Schwartz, the CTO of Ripple, dismissed the rumors and stated that he is unaware of any specific plans for a buyback and that no official source has mentioned it. The rumors have had little impact on the price of XRP, as it has experienced a 1.4% loss in the past 24 hours and a 1.2% loss over the past week.

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