The crypto community constantly criticizes Ripple for dumping huge amounts of XRP quite frequently, which some say keeps the price of XRP from going up. The CEO of Ripple Labs, Brad Garlinghouse, has many times defended the company and justified the sale of XRP tokens.
“Ripple can’t control the price of XRP any more than the whales can control the price of Bitcoin.”
In an interview with CNN, Brad Garlinghouse said that Ripple can not control the price of XRP any more than the whales can control the price of bitcoin. XRP is the third-largest cryptocurrency in the market. He said that he does not believe Ripple can influence the price of XRP. Currently, the market capitalization of XRP is more than $9 billion.
— XRP 2020 (@XRP_2020) January 4, 2020
“Ripple owns a lot of XRP.”
Brad Garlinghouse also noted that Ripple owns a lot of XRP, and it will benefit from the token’s success. Earlier company’s Chief Technical Officer, David Schwartz, defended Ripple and said that do not profit through XRP sales. He also remarked that no one buys XRP to give them money to do things. Ripple recently announced funding of $200 million, making the total value of the company around $10 billion.