Ripple CTO Dispels XRP Price Suppression Accusations Amid Speculations

Ripple's Chief Technology Officer (CTO), David Schwartz, has addressed rumors surrounding alleged exponential increases in Ripple's XRP sales in December, providing clarity to the XRP community. Speculations about Ripple's sales have often been linked to XRP's price dynamics, with claims of price suppression due to substantial sell-offs.

Clarification on XRP Sales Figures:

• Schwartz refutes claims of Ripple's XRP sales increasing threefold in December, emphasizing inaccuracies in the circulated figures.
• He alludes to the upcoming XRP Markets Report, asserting that it will provide a comprehensive view of Ripple's aggregate XRP holdings over the quarter, dispelling rumors of significant changes.

Consistent XRP Holdings Quarter-on-Quarter:

• Schwartz states that there hasn't been a notable change in Ripple's holdings quarter-on-quarter, with sales patterns aligning with previous quarters.
• The CTO highlights that variations in Ripple's XRP holdings are standard processes involving transfers, grants, and sales, and nothing extraordinary.

Response to Analyst Claims:

• Schwartz's remarks come in response to claims by crypto analyst ABS, who suggested that Ripple was "heavily dumping" XRP tokens on the market. ABS had indicated a substantial increase in Ripple's net XRP sales in December.

Debate on Ripple's Impact on XRP Price:

• The impact of Ripple's XRP sales on the token's price remains a topic of debate within the crypto community.
• While some, like crypto YouTuber Jerry Hall, have asserted that Ripple's sales suppress XRP's price, others argue that these sales don't directly influence the token's market price.

Brad Garlinghouse on Spot Bitcoin ETFs Approval:

• Ripple's CEO, Brad Garlinghouse, congratulates those involved in achieving the approval of Spot Bitcoin ETFs.
• Garlinghouse highlights the significance of this moment, believing it will further legitimize crypto as an asset class and catalyze institutional adoption.

XRP ETF Speculations:

• XRP is suggested as a potential candidate for an ETF following the approval of Spot Bitcoin ETFs.
• Bloomberg analyst James Seyffart, however, suggests that an XRP ETF is unlikely to launch this year.

Source: XRPUSD on Tradingview.com

Schwartz's statements aim to address concerns within the XRP community regarding the perceived impact of Ripple's XRP sales on the token's market dynamics, offering insights and emphasizing consistency in the company's holdings.