Cryptocurrency

XRP: Financing of Ripple and its price, you know

We all know that Ripple is the company behind the development of the third criptomoneda most important in the world; XRP. And that, from the start Ripple has been expressed that XRP is not controlled by them. But, of course, all this is nothing more in the paper, as it currently is this company the Big Whale largest this important altcoin. Reaching even 80% of all the total supply of XRP available. For a long time these relationships between Ripple and XRP have been a topic of heated debate within the criptoverso. With its detractors claiming that the process of monetization, which has led the company through its massive sales every 3 months has been at the expense of the sweat of their hodlrs.

Ripple is sinking more than XRP

For this reason, the CEO of Ripple; Brad Garlinghouse; has tried with all their strength for years to demolish the thesis of the critics with words; but not with facts. Recently, the CEO has been quoted in an interview stating that:

“XRP is vital to the profitability of Ripple. Without these quarterly sales would not exist a positive cash flow”.

In a nutshell, this indicating that these controversial sales are the main source of income. In few words, this indicating that these controversial sales; they have generated that the price of XRP will crash; they are the main source of income. As was to be expected; these statements have generated some strong responses from several important forums of hodls of XRP. In the last few months, XRP has had a performance quite lousy; at least in comparison with the other 2 cryptocurrencies above him; Ethereum (ETH) and Bitcoin (BTC). While the price of Bitcoin soared from the course of the past year; until some weeks ago. The price of XRP has tended downward since then. Which has generated many of its users, that previously defended to the hilt to Ripple; to have said simply ENOUGH, and have even proposed a hard fork.

XRP does not resist more

These statements without filters; the leader of Ripple is very surprising. Because they demonstrate that in spite of the constant complaints, requests, and even petitions of part of the crypto ecosystem of XRP; to Ripple stop on to fill the market with XRP; that does no more than bring down prices. The company has ignored these voices, which are becoming more and more. Many crypto-analysts have attributed the price decrease of more than 40 % of XRP in the year 2019 is the fault of the massive sales quarterly. And what is expressed by these experts; and the same story; is that it is unlikely to stop in the short term. XRP has seen some losses intense during the last week. With this important altcoin gliding from the annual maximums hovering around the $ 0.30 to the lowest of the last few months at least of $ 0.20. Thus removing the greater part of the earnings you incurred as a result of his intense upward trend to 2020. It is still unclear if a possible bounce may occur despite this small bear run that we live some days ago. For the price of XRP can recover a little will depend on 2 things: That Bitcoin also see some upward momentum, Which Ripple to reduce the massive sales. If XRP you want to recover some of its recent losses, is likely to depend on whether BTC may or may not find some stability and begin to climb more, Said Crypto Micahël.

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About the author

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.

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