Ripple CTO Stands Firm Against XRP Dump Allegations 🚀
Ripple’s Chief Technology Officer (CTO) David Schwartz has taken a strong stance in the face of allegations that Ripple is dumping XRP. He has refuted claims of hidden XRP sales data and emphasized transparency and responsible sales practices.
Schwartz Emphasizes Transparency in XRP Sales Decisions 📊
Schwartz expressed disappointment in the misinterpretation of Ripple’s XRP sales, stating that he doesn’t understand why it matters how they sell XRP as long as it is done responsibly. He highlighted the transparency surrounding Ripple’s sales decisions, reassuring the XRP community that everyone can see how much XRP is being sold and returned to escrow.
– Ripple CTO’s Response to Misleading Accusations-
“Yes, we choose how much to sell. And everyone can see how much XRP comes out of escrow and how much goes back in.”
— David “JoelKatz” Schwartz (@JoelKatz) February 19, 2024
Previously, Schwartz clarified that Ripple had stopped programmatic XRP sales but continued with XRP On-Demand Liquidity (ODL) sales. Despite this, an XRP supporter accused Ripple of misleading people by not disclosing their ODL sales.
Support from Bill Morgan & Zach Rector 💪
Bill Morgan, a lawyer following Ripple closely, differentiated between “dumping” and “selling.” He explained that dumping refers to selling in a way that suppresses the price, while selling alone does not necessarily have that effect. He urged the XRP community to rely on evidence rather than speculation in their arguments.
Journalist Zach Rector also defended Ripple, stating in a recent YouTube video that it’s actually retail investors, not Ripple, who have been dumping XRP.
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