Ripple’s native token, XRP, is emerging as a crypto that has been underperforming consistently over the past 2-3 years. XRP price is down by around 8% on the year to date (YTD) basis, while, other token cryptos are flourishing. This ongoing flunk led an online crypto researcher to flag cautions around Ripple’s XRP programmatical sales.
Ripple CTO opens up
An online crypto researcher, ĐΛRKHØRSΞ in a video post talked about complications in Ripple’s report around its XRP Programmatical Sales.
David Schwartz, Ripple CTO, replied to this matter. He stated that they understand about caring how much Ripple sells. Meanwhile, he doesn’t get why people think it matters so much exactly how we sell XRP.
He nodded on the matter that Ripple chooses when to sell and also chooses how much to sell. However, Ripple CTO highlighted that everyone can see how much XRP comes out of escrow and how much goes back in.
ĐΛRKHØRSΞ countered Schwartz’s take on the matter. He added the potential return of bots and Ripple’s past practices raise valid concerns about transparency. It is important to note that monthly escrow releases are routine for holders but the method of dispersion here remains a topic of ongoing discussion.
The crypto researcher asked Ripple CTO that has Ripple ever considered giving XRP a break for a month or more. He suggested that this move would give the XRP a space to breathe. However, stopping the sales for just a month could allow it to find a new price discovery point, he added.
ĐΛRKHØRSΞ mentioned that Ripple has pivoted a lot in the last 6 years but its escrow release and sales haven’t. He asked if this pattern could change. Ripple’s CTO stated that there is no third alternative available here.
What’s next?
This is not the first time that Ripple or XRP has faced these sorts of questions. It is involved in a crucial legal battle with the US Securities and Exchange Commission (SEC). However, Ripple and the defendant had gained a partial victory against the commission in the summary judgment.
Despite this major win, XRP’s performance turned out to be not as much as the XRP army or crypto community was expecting. Its price somehow jumped by over 80% when the judgment was released. Since then there has been much buzz around it.
XRP price recorded a gain of around 8% in the last 7 days but it is still trailing by 10% over the last 60 days. XRP is trading at an average price of $0.55, at the press time.
