• Ripple CTO David Schwartz talked about burning XRP supply to boost prices.
• Schwartz also said that he would not engage in burning or gifting XRP to initiate price surges.
• Ripple has decided to reduce its XRP holdings.

Ripple’s CTO, David Schwartz, addressed critics who believe the company suppresses the price of XRP, the seventh-largest cryptocurrency by market cap, by flooding the market with tokens.

Schwartz took to X (formerly Twitter) to explain that burning XRP tokens or giving them away wouldn’t magically boost the price. He stated that the burning of Stellar (XLM), the thirtieth-largest cryptocurrency by valuation, had no impact on the price of the altcoin.

He further highlighted an X post from earlier this year where he explained why gifting XRP to the crypto community is not the right way to go as well, confirming that the strategy worked …

The post Ripple CTO: Selling XRP; Not Burning, Fuels Growth appeared first on Coin Edition.

• Ripple CTO David Schwartz talked about burning XRP supply to boost prices.
• Schwartz also said that he would not engage in burning or gifting XRP to initiate price surges.
• Ripple has decided to reduce its XRP holdings.

Ripple’s CTO, David Schwartz, addressed critics who believe the company suppresses the price of XRP, the seventh-largest cryptocurrency by market cap, by flooding the market with tokens.

Schwartz took to X (formerly Twitter) to explain that burning XRP tokens or giving them away wouldn’t magically boost the price. He stated that the burning of Stellar (XLM), the thirtieth-largest cryptocurrency by valuation, had no impact on the price of the altcoin.

He further highlighted an X post from earlier this year where he explained why gifting XRP to the crypto community is not the right way to go as well, confirming that the strategy worked …

The post Ripple CTO: Selling XRP; Not Burning, Fuels Growth appeared first on Coin Edition.