• Blog
  • News
  • Ripple – We Can’t Regulate XRP Price These Days
Ripple - We Can’t Regulate XRP Price These Days - Binaryx

Ripple – We Can’t Regulate XRP Price These Days

While XRP is increasing its value on the cryptocurrency market, the CEO of Ripple, Brad Harlinghouse, noted that the company is not seeking an opportunity to dump the price. Even the recent series of major sell-offs over a couple of hours.

Brad explained once more how Ripple does control the price and what to expect in 2020. For instance, he pointed out that Ripple, as a major owner of digital XRP coins, is not interested in decreasing its value. Moreover, the primary target of the company is to build a robust ecosystem that will be based on XRP. 

Any accusations and concerns regarding the XRP elimination or a complete sell-off is nothing more than rumors, he added.

The XRP Sell-off and The Prospects

The digital currency community members, including famous traders and investors, have noticed that Ripple is selling off the larget amounts of coins recently. Naturally, some raised their concerns regarding the future of XRP, which is, according to Ripple’s ambitions and plans, has to replace old payment systems, as well as boost the banking sector all over the world. The primary aim is to decrease transaction time.

As soon as 2020 stepped on our Earth, the company announced to release one billion of XRP (almost $200,000) from the depository accounts. It is worth mention that Ripple planned to do it a while ago. 

The performance of XRP in recent months can’t be named successful, as the price plunged to a new record-low level of $0,20 in December. In comparison to the all-time high, which was $3,40 per coin, such a drop is very significant in terms of trading. Nonetheless, the recent market transformations affected the price performance, as it managed to recover the position by 9% over the past hours.

The CEO of Ripple continued to share interesting information, as he pointed out that the company is no longer regulating the price, as Bitcoin Whales control the BTC. Even though numerous investors are holding digital assets in large amounts, they are not able to affect the price significantly. Besides, he also added the major buyers might have restrictions by buying the XRP. The company faced many cases in recent years when major or institutional investors offered them to buy a bulk of coins. 

The main reason was to prevent any crypto market manipulations from such investors and to support the XRP reputation for other projects.

However, the Ripple has resisted it well and remains the number one holder in terms of XRP.