{"id":461928,"date":"2024-09-23T11:25:12","date_gmt":"2024-09-23T11:25:12","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=857037"},"modified":"2024-09-23T11:25:12","modified_gmt":"2024-09-23T11:25:12","slug":"ripple-cto-refutes-price-suppression-allegations-supports-xrp-growth-with-key-support","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2024\/09\/23\/ripple-cto-refutes-price-suppression-allegations-supports-xrp-growth-with-key-support\/","title":{"rendered":"Ripple CTO Refutes Price Suppression Allegations, Supports XRP Growth With Key Support"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-23-13.38.02-A-vibrant-cryptocurrency-scene-illustrating-Ripples-CTO-refuting-price-suppression-allegations-and-supporting-XRP-growth-with-key-support.-The-image-.webp\" class=\"ff-og-image-inserted\"><\/div>\n<ul>\n<li><strong>Ripple CTO David Schwartz denies price suppression claims, stating Ripple has no control over XRP\u2019s market value.<\/strong><\/li>\n<li><strong>Schwartz emphasizes XRP\u2019s potential for growth, noting his significant holdings and long-term belief in the token\u2019s future.<\/strong><\/li>\n<\/ul>\n<hr>\n<p>David Schwartz, Ripple\u2019s Chief Technology Officer, has strongly refuted claims that Ripple is suppressing the price of XRP. In a recent discussion within the XRP community, Schwartz confirmed that he holds XRP and reiterated that if he had the power to raise its value, he would.<\/p>\n<p>He also addressed accusations suggesting Ripple deliberately keeps the price low, emphasizing that neither he nor Ripple has such control. As CNF earlier <a href=\"https:\/\/www.crypto-news-flash.com\/how-david-schwartz-is-shaping-ripples-blockchain-and-defi-innovations\/\">highlighted<\/a>,<\/p>\n<blockquote>\n<p>Schwartz\u2019s early contributions to the XRP Ledger cannot be underestimated. He was one of the major engineers who created its protocol, ensuring that it not only offered rapid and safe transactions but also scalability to meet the needs of global finance in the future.<\/p>\n<\/blockquote>\n<p>Furthermore, as discussed in another CNF <a href=\"https:\/\/www.crypto-news-flash.com\/ripple-cto-david-schwartz-reaffirms-xrp-cannot-stay-dirt-cheap\/\">update<\/a>, the conversation stemmed from a 2017 comment by Schwartz, where he explained that XRP\u2019s role in international payments would prevent it from staying \u201cdirt cheap.\u201d Schwartz pointed out that higher prices make transactions more cost-effective.<\/p>\n<p>For instance, at $1 per XRP, a $1 million transaction requires 1 million XRP, whereas, at $1 million per XRP, just one token would suffice for the same transaction.<\/p>\n<p>Despite this, some community members highlighted that XRP remains \u201cdirt cheap\u201d at around $0.594. Schwartz responded, clarifying that regardless of XRP\u2019s price, making a $1 million payment with XRP will always cost $1 million in total, as it depends on the amount being transacted, not the token\u2019s price.<\/p>\n<p>In another scenario, Schwartz also addressed concerns over Ripple\u2019s periodic unlocking of 1 billion XRP from escrow accounts, which some believe contributes to price stagnation. He reassured the <a href=\"https:\/\/www.crypto-news-flash.com\/xrp-community-eyes-qatars-new-digital-assets-framework-a-golden-opportunity-for-ripple\/\">community<\/a> that these actions are not intended to suppress XRP\u2019s value. In a show of confidence, Schwartz revealed that at one point, he held at least 26 million XRP and had never sold his holdings, signaling his strong belief in the token\u2019s future.<\/p>\n<p>Ripple (XRP) is trading at <strong>$0.5855<\/strong>, with a decrease of <span><strong>1.16%<\/strong><\/span> in the past day and an increase of<span><strong> 2.50%<\/strong><\/span> in the past week. See the XRP price chart below.<\/p>\n<div class=\"tve-leads-shortcode tve-leads-triggered tve-tl-anim tl-anim-instant tve-leads-track-shortcode_228374\">\n<div class=\"tl-style\" id=\"tve_tcb2_set-001\" data-state=\"50\" data-form-state>\n<div class=\"tve-leads-conversion-object\" data-tl-type=\"shortcode_228374\">\n<div class=\"tve_flt\">\n<div id=\"tve_editor\" class=\"tve_shortcode_editor\">\n<div class=\"thrv-leads-form-box tve_no_drag tve_no_icons thrv_wrapper tve_editor_main_content thrv-leads-in-content tve_empty_dropzone\" data-css=\"tve-u-185a09262cb\">\n<div class=\"thrv_wrapper thrv_text_element\">\n<p data-css=\"tve-u-185a09262d4\"><span data-css=\"tve-u-185a09262d5\">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; No spam, no lies, only insights. You can unsubscribe at any time.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.crypto-news-flash.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple CTO David Schwartz denies price suppression claims, stating Ripple has no control over XRP\u2019s market value. Schwartz emphasizes XRP\u2019s potential for growth, noting his significant holdings and long-term belief in the token\u2019s future. David Schwartz, Ripple\u2019s Chief Technology Officer, has strongly refuted claims that Ripple is suppressing the price of XRP. In a recent [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":461929,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[172,9621,25,17990,3487],"class_list":{"0":"post-461928","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-other","8":"tag-crypto","9":"tag-cto","10":"tag-news","11":"tag-ripple-cto","12":"tag-ripple-xrp"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/461928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=461928"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/461928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/461929"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=461928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=461928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=461928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}