Ripple CEO “Compelled” to Clear the FUD Around XRP Dumping Says, It’s “Decreased”
- Brad Garlinghouse: It's clear XRP is not a security”
- XRP Bagholders: Stop Dumping, Let it go to ATH and Beyond
- Ripple CEO: We have Cut it Down
There has been much discussion and drama around Ripple’s digital currency XRP being a security. The debate has raged for years that spilled out into the courts as XRP holders sue Ripple as they lose money after the price of the digital asset dropped.
I'm always struck by the questionable sources (i'm being generous here) spreading FUD about #XRP and @Ripple. Even more so over the last few weeks (Ripple's XRP sales, litigation etc)…. thus, I feel compelled to comment
— Brad Garlinghouse (@bgarlinghouse) August 27, 2019
Brad Garlinghouse: It's clear XRP is not a security”
Brad Garlinghouse, Ripple CEO has repeatedly made his points as he emphasized that XRP is not a security.
“It (XRP) exists independently of Ripple the company. If Ripple, the company shut down tomorrow, XRP will continue to exist,” said Garlingouse last year.
Then he doubled down, as he explained, “when you buy XRP, that doesn’t give you any rights to the profits or ownership of Ripple the company.” Now, yet again he is “compelled to comment” on the XRP litigation,
“As a defendant in the class action lawsuit, I won't get into the details (response from Ripple is coming soon). I will say: SEC guidance isn't issued by the Commission and isn't law, rule or regulation. It's clear XRP is not a security and the UK and others have said as much.”
XRP Bagholders: Stop Dumping, Let it go to ATH and Beyond
Recently, XRP bag holders started a petition “Stop Ripple dumping” on Change.org that has received 2,480 signatures by now. As per the petition, Ripple is dumping XRP and crashing the price.
Despite there being good news “everyday” in form of a new bank or partnership, it says the price keeps on dumping. This they deduce is because Ripple is driving the price down.
And if Ripple stops doing this, the “solid coin with major potential” will pump like the “good ol days” to the ATH and beyond.
Ripple CEO: We have Cut it Down
On XRP sales, and people accusing Ripple of dumping XRP and calling the digital asset a “scam,” Garlinghouse has this to say,
“XRP sales are about helping expand XRP's utility – building RippleNet & supporting other biz building w/XRP ie Dharma & Forte. Reality is we DECREASED our sales by volume Q/Q and since then the inflation rate of XRP circulating supply has been lower than that of BTC and ETH,” he said.
Lack of regulatory guidance from the authorities is dragging the issue and they have taken to remain quiet for now.