Ripple top technologist David Schwartz has recently responded to continued accusations that the San Francisco-based firm manipulates XRP price downwards. Critics allege that Ripple streamlined XRP token creation, a key reason cited for the token's inability to increase in price.
To clarify, Schwartz decided to use X (previously Twitter) and stated that burning tokens or giving them away to others will not drive their price up automatically. He cited the case of Stellar (XLM), the 30th-most valuable crypto by market capitalization, which did not experience any significant change in token value after a huge burning process remained initiated. Schwartz noted that accelerator approaches such as burning or gifting tokens can't automatically create value or bring price appreciation.
The post "Ripple's CTO David Schwartz Refutes Claims of Suppressing XRP Price" first appeared on 36crypto.com News.
