The CEO of Blockchain payment network Ripple stated that the firm did not want to dump its XRP assets despite selling at huge amounts. During a CNN Interview, Brad Garlinghouse noted fresh contention about Ripple’s relationship to XRP, a coin that gained a fresh 10% momentum in the past 24 hours.

Ripple “Can’t Control XRP Price”

Garlinghouse told CNN that Ripple owned the largest value of the XRP network and suggested that they were the most interested part in the success of XRP. The CEO enlightened viewers on the role of Ripple in the management of assets. He said:

“Yes, Ripple owns a lot of XRP, we’re very interested in the success of XRP, but the accusations of us dumping, that’s not in our best interests to do that […]. We would never do that and in fact, we’ve taken steps to lock up most of the XRP we own in escrows so we can’t touch it.”

Garlinghouse’s comments are par Ripple’s market movements last year and before. For instance, the company had been selling XRP in bulk, and last year was the year it got rid off more tokens in its selling history. Into the year 2020, the company has released at least $1 billion XRP coins worth approximately $200,000 from its escrow.

The amount is part of an operation, the company is putting in place. Meanwhile, XRP hit a low it had not witnessed for two years in December. The coin dropped below $0.20.

At one point, XRP traded 96% below its all-time high of $3.40. The past 24 hours have seen the coin go upwards by a 9% gain. Hence sending the XRP/USD trading pair past the $0.20 price barrier. However, despite popular believe that Ripple was manipulating XRP price points through dumping; the CEO denied the claims and strongly suggested that Ripple did not have the ability to influence XRP price.

When asked whether the situation wasn't similar to major Bitcoin investors manipulating Bitcoin price events, he said:

“Oh no Ripple can’t control the price of XRP any more than the whales can control the price of Bitcoin.”

source>>https://www.cryptoknowmics.com/news/ripple-clears-popular-believe-of-manipulating-xrp-prices