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Ripple CEO opens up about lawsuit, XRP sales and FUD

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

Ripple Ceo, Brad Garlinghouse, in series of tweets tried to shut down rumors and clear FUD among XRP. He tweeted about the questionable sources that are causing FUD about XRP and Ripple over the last few weeks.

Brad Garlinghouse also commented on the class-action lawsuit filed against Ripple last year by some investors who claimed that Ripple sold unregistered securities. Without going into many details, he wrote that SEC guidance is not law rule or regulation and XRP is not a security, and the UK and other countries have said so too.

He further added that XRP’s sales are there to expand the cryptocurrency’s utility and supporting businesses. This response was to tackle ongoing debate among the crypto community how Ripple is selling XRP for its benefits. On the contrary, he added that Ripple decreased the sale of XRP quarter over quarter and the inflation rate of XRP’s circulating supply has been lower than of BTC and ETH.

In the end, he claimed that Ripple is setting industry standards by being transparent and publishing its quarterly market report for everyone to see.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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