Key Points on Ripple CTO David Schwartz’s Comments on XRP
Burning XRP Supply 🔥
David Schwartz discussed the idea of burning XRP to boost prices but clarified that it wouldn’t have the desired effect. He pointed out that burning Stellar (XLM) didn’t impact its price1.
No to Burning or Gifting 🚫
Schwartz emphasized that he wouldn’t engage in burning or gifting XRP to initiate price surges. He believes these actions don’t achieve anything different from selling1.
Reducing XRP Holdings 📉
Ripple has decided to reduce its XRP holdings, addressing concerns that the company might be suppressing XRP’s price by flooding the market with tokens1.
Addressing Critics 🗣️
Schwartz responded to critics on X (formerly Twitter), explaining that burning or giving away XRP wouldn’t magically boost its price. He shared links to his previous discussions on these topics1.
Market Impact 📊
The move to reduce XRP holdings is seen as a way to manage the market better and potentially support the price of XRP in the long term1.
Implications
Strategic Management 🧠: Ripple’s approach to managing its XRP supply is aimed at maintaining market stability rather than quick price boosts.
Long-Term Focus 📈: By reducing its holdings, Ripple aims to support a healthier market environment for XRP.
What are your thoughts on Ripple’s strategy? 🤔
