Ripple CTO Addresses Allegations: Defends XRP Strategy Amid Scammer Claims

Ripple CTO, David Schwartz, refutes allegations of XRP manipulation, clarifying the company’s stance on holdings, burning, and giveaways amid rising community skepticism.

A fresh wave of controversy has erupted within the XRP community, centering on the role of Ripple and its top executives, including CEO Brad Garlinghouse and CTO David Schwartz. The debate was reignited when an XRP enthusiast questioned the true value Ripple brings to the table with XRP. Skeptical voices within the community accused Ripple’s leadership of manipulating XRP holdings for personal gain, effectively using retail investors as a source of on-demand liquidity for their own profit.

These accusations particularly referenced Schwartz’s earlier comments about Ripple’s two potential strategies: either maintaining their current XRP holdings or reducing them. When confronted with additional suggestions—such as burning XRP or giving it away to committed holders—Schwartz firmly defended Ripple’s approach.

Addressing the idea of burning XRP, Schwartz cited a previous example comparing Stellar’s XLM to XRP. He argued that Stellar’s massive token burn had little impact on its performance, suggesting that the primary factors driving XRP’s price are external to the ecosystem and shared with similar assets like XLM.

Regarding the notion of giving away Ripple’s XRP holdings, Schwartz pointed out the inherent risks. He noted that while giving away XRP might seem different from selling it, it could lead to people spending 95 cents to participate in a $1 giveaway, ultimately enriching fraudsters. Schwartz reminded the community that Ripple had previously tested such a strategy, but it became problematic once XRP achieved liquidity.

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