Ripple Loses Control over XRP Price yet Bitcoin Can

USA – XRP gained 10% in the previous 24 hours. However, Brad Garlinghouse, the CEO of Ripple, stated in a CNN interview that the company couldn’t control the price of XRP, unlike Bitcoin.

The CEO of Ripple, one of the renowned blockchain payment network, stated that the company doesn’t want to dump XRP regardless of trading significant amounts of this cryptocurrency.

In a CNN interview on January 5, the CEO of Ripple, Brad Garlinghouse, added new content to the argument concerning the relationship of Ripple to XRP, wherein it gained 10% in the previous 24 hours.

As per Garlinghouse, he shared with the network that Ripple is the most prominent owner in the XRP community. Also, he stated that this cryptocurrency is one of the most fascinated parties in the triumph of the ecosystem of XRP.

Garlinghouse also said that Ripple possesses lots of XRP. He added that dumping is not in their best welfares to do it. Furthermore, he said that they took steps to lock up the maximum of the XRP they have in escrows. It’s the reason why they can’t touch it.

The remarks bump with the market move of Ripple in 2019, and even before. The company has been trading XRP by bulk, as per Cointelegraph. However, with the previous year witnessing it rid more coins than before.

Ripple released 1 billion worth of XRP at the beginning of the year 2020, which is worth around $200,000. This fund came from escrow, which is a part of a planned transaction.

XRP hit above two-year lows in December 2019, which dropped the price under $0.20. It also traded 96% under the all-time high price of $3.40. It recovered, which includes 9% gains in the previous 24 hours, after sending XRP/USD back beyond the barrier price of $0.20.

Garlinghouse sustained to shock. Regardless of the coin share of Ripple, he firmly denied that the company might impact the price of XRP. He also reacted after he was asked regarding the possibility, comparing the case to Bitcoin (BTC) depositors. He said that the company couldn’t control the XRP price more than Bitcoin

Garlinghouse stated that Ripple might not answer well to other depositors with a significant XRP share supply. He situated Ripple as the continuing primary coin holder moving forward. Moreover, he shared that they might have lock-ups to avoid investors from discarding the cryptocurrency market.

The CEO of Ripple stated that they don’t want the other party purchasing a lot of XRP and throwing it on the crypto market. Furthermore, he might theoretically have restrictions concerning what they might trade and how frequent.