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Ripple has no incentive to dump XRP price - Ripple’s CEO Brad Garlinghouse

  • Brad Garlinghouse answered the community accusations in the interview with CNN.
  • XRP/USD stays range-bound, recovery capped by $0.2570.
Ripple has no incentive to dump XRP price - Ripple’s CEO Brad Garlinghouse
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

Ripple’s CEO Brad Garlinghouse denied the accusations that the company had been dumping the tokens to manipulate XRP price. 

Speaking in the interview with CNN, Garlinghouse confessed that Ripple was the largest owner of XRP tokens, and thus the most interested party in the success of the project. Meanwhile, selling XRP onto the market does not qualify as the best success strategy.

“We are clearly interested in a healthy, successful XRP ecosystem, and we would never do that,” he emphasized.

Moreover, according to Garlinghouse, Ripple has no control over XRP just as whales have no control of Bitcoin price.

Ripple’s XRP locked in a range

Ripple’s XRP, the third-largest digital asset with the current market capitalization of $10.9 billion, has recovered from Thursday’s low of $0.2511 and settled at $0.2547 by the time of writing. Despite the recovery, XRP/USD stays mostly unchanged on a day-on-day basis, while the recovery is limited by $0.2570 (a confluence of SMA100 (Simple Moving Average), SMA200 and the lower upper of the Bollinger Band on the one-hour chart). The initial support is created by a psychological barrier at $0.2500.

XRP/USD, one-hour chart

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

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