Ripple CTO Responds to Investor Worries Regarding Unchanging XRP Price

Bitcoin and Ether are experiencing significant price surges, but XRP is struggling to keep up. With XRP sitting below $0.60, investors are becoming worried about its performance. This has sparked a discussion in the Ripple community regarding the company’s sales methods and how they may be affecting XRP.

Ripple’s Chief Technological Officer, David Schwartz, has recently addressed the growing questions surrounding Ripple’s sale of XRP. He has clarified any doubts that arose after documents revealed Ripple’s involvement in programmatic sales of XRP.

Schwartz has made it clear that programmatic sales of XRP came to an end in 2020, as stated in the Q1 2023 XRP market report. The report shows that currently, only Ripple Payments (ODL) partners are purchasing XRP from Ripple for cross-border payments.

Schwartz has emphasized the distinction between programmatic sales and transactions with ODL partners, stating that Ripple exclusively sells XRP to the latter. He has also highlighted Ripple’s practice of acquiring additional XRP from the open market, providing a balanced perspective.

Schwartz’s revelations have shed light on Ripple’s unique approach to transactions. Occasionally, the company sells more XRP to ODL partners than it acquires from the open market, resulting in fluctuations in Ripple’s XRP balance.

In an effort to address concerns within various communities, David Schwartz is actively working towards transparency in Ripple’s sales practices. Recognizing the need for improved communication, he is awaiting further clarity from Ripple to address any apprehensions within the cryptocurrency community.

Ripple’s efforts to clarify its sales dynamics demonstrate the importance of transparency. Open communication is crucial for the cryptocurrency industry at this time.