Lately, Ripple sold huge amounts of its XRP cryptocurrency but CEO Brad Garlinghouse wanted to assure that the company doesn’t have any plans to dump it.
In a recent interview for CNN, Garlinghouse talked about his company’s relationship with the digital asset, with managed to register a 10% gain in the past 24 hours.
No plans on dumping XRP
“In the XRP community, Ripple is the largest owner, and the point I have made is we’re the most interested party in the success of the XEP ecosystem,” he said, according to Cointelegraph.
“Yes, Ripple owns a lot of XRP, we’re very interested in the success of XRP, but the accusations of us dumping, that’s not in our best interests to do that. We would never do that and in fact, we’ve taken steps to lock up most of the XEP we own in escrows so we can’t touch it.”
It’s worth mentioning that Ripple has been selling XRP in bulk for some time, the record being reached in 2019 when they sold more tokens than ever. As for 2020, they have released one billion tokens so far, as part of a planned operation.
The price isn’t controlled by the company
However, despite all these move and Ripple’s token share, Brad Garlinghouse denied that they are trying to influence the price in any way.
“Ripple can’t control the price of XRP any more than the whales can control the price of Bitcoin.”
Also, he’s the same person who wanted to make it clear that Ripple won’t respond well to other major investors owning big chunks of the whole XRP supply, as he wants the company to be considered the major token holder, in their attempt to grow.
“We don’t want some party buying a whole lot of XRP and dumping it on the market, and so we would hypothetically have restrictions about what they could sell and how often, and usually those are based on volume in the market.”