The release of the Hinman documents, part of the legal battle between Ripple Labs and the SEC, has caused excitement among XRP supporters who believe Ripple will come out on top. However, little attention has been given to the documents and emails that Ripple has had to reveal. One interesting issue is the speculation about a possible buyback of 10 billion XRP tokens by Ripple. Ripple’s CTO, David Schwartz, denied any knowledge of this specific buyback. However, recently released documents and emails suggest that Ripple did consider buybacks to support the price of XRP shortly before the SEC lawsuit in June 2020. The documents outline different scenarios and potential buyback options. The creators of the presentation recommend Ripple buying back XRP directly from market makers. The documents also reveal that Ripple was marketing XRP to speculators, despite denying this in the past. The XRP price is currently consolidating below the $0.50 resistance zone.
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