Ripple Will Sell Less XRP in Future
A major cryptocurrency community victory was achieved when the SEC formally dropped its case against Ripple. Brad Garlinghouse, the CEO of Ripple, has made yet another significant announcement, implying that the company may eventually reduce its XRP sales.
This occurs as Ripple is gaining traction, overcoming legal obstacles, and aiming higher in cryptocurrency.
Garlinghouse addressed concerns regarding Ripple’s XRP sales in a Bloomberg interview. Although the company currently owns 42% of XRP’s total supply, he admitted the business”may not be selling as much” in the future.
He also rejected the criticism, referring to it as “falsehoods” and pointing out that Ripple is frequently chastised for holding and selling XRP.
Brad Garlinghouse responded to the ongoing criticism of XRP sales. According to him, the business may eventually reduce them. Garlinghouse told Bloomberg’s Sonali Basak, “Maybe we won’t be selling as much at some point.”The 53-year-old executive also claimed that some critics of Ripple were disseminating “falsehoods” about the business.
Ripple must now choose whether to reach a deal with the SEC to “drop everything,” including the $125 million fine and permanent injunction, or to proceed with its cross-appeal to address the remaining issues.
Notably, Ripple has already paid the $125 million fine, which is presently in escrow, in partial compliance with Judge Torres’ ruling.
According to Garlinghouse’s statement in the interview, Ripple has no problem getting the money back. The CEO of Ripple said, “That is something we would not mind having back.”
The Crypto company wants to get Ripple USD (RLUSD) into the top 5 by the end of the year. He believes there will be a significant increase in this market sector.
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