Garlinghouse: Ripple can’t control the price of XRP

Garlinghouse: Ripple can’t control the price of XRP

 

Garlinghouse also shed light on a potential Ripple fork.

Crypto Bitlord started a petition to stop Ripple from selling portions of its holdings.

Ripple CEO Brad Garlinghouse has stated that Ripple has no influence over the price of the XRP token. This year, XRP’s value is down by 27% while Bitcoin has surged 175%. This has caused a crypto influencer known as Crypto Bitlord to start a petition to stop Ripple from selling portions of its holdings to crypto exchanges and institutions. So far, more than 3,500 people have signed the petition.

During an interview with CNN, he compared Ripple’s holdings of more than half of the total supply of XRP to Bitcoin whales that own large quantities of BTC. He said: “The point I have made is we are the most interested party in the success of the XRP ecosystem. We’re very focused on our use case and how do we solve problems with XRP. One of the things I’m excited about is you’re seeing a growing ecosystem of other players investing in other use cases around XRP. “If you look at the correlations between XRP and most of the crypto market, or what are often called the altcoins, you see a very high degree of correlation. Ripple can’t control the price of XRP any more than the whales can control the price of Bitcoin. Some of these markets, particularly smaller tokens that have a lower market cap and lower flows, if you will, they are at […]