Ripple cannot influence the price of XRP says CEO
Brad Garlinghouse, CEO of Ripple, was a guest at CNN’s First Move today. In the interview with Julia Chatterley, Garlinghouse claims that “no one can influence the price of XRP “, partly due to the huge daily volume.
In the interview, Garlinghouse gave a simple explanation of how XRP works exactly and what benefits banks and other financial institutions can have with it. According to Garlinghouse, XRP solves a real problem and therefore has a future, despite the FUD that often still exists around cryptocurrency.
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Based on recent reports about “dumping XRP by Ripple”, Chaterey asked the CEO of Ripple how exactly this is. He then said that Ripple is the biggest stakeholder in the success of both Ripple and XRP. It would therefore not be smart to dump XRP on the market in large quantities, according to Garlinghouse.
When asked whether Ripple could influence the XRP course, Garlinghouse replied:
Ripple cannot influence the price of XRP any more than the whales can influence the price of Bitcoin. […] I don’t think anyone is able to manipulate these rates.
Ripple gives the reason for selling XRP that it wants to make the ecosystem grow by allowing more companies to use XRP. Based on this information, Garlinghouse was asked whether these companies would receive a discount and whether they could, therefore, influence the market.
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Garlinghouse replied that companies such as MoneyGram and Santander that use XRP buy the cryptocurrency at the market price. However, sometimes there are also companies that “want to buy $ 10 million XRP”. They get the opportunity to buy it at a discount, but Ripple does impose restrictions on these companies. For example, they should not just start dumping XRP.
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