HomeNewsRipple's CTO Sets Record Straight: No Concealment of XRP Sales

Ripple’s CTO Sets Record Straight: No Concealment of XRP Sales

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  • Ripple’s David Schwartz denies allegations of concealing XRP sales amid SEC litigation.
  • XRP price shows signs of recovery, holding above the key psychological level of $0.60 recently.

David Schwartz, Ripple’s Chief Technology Officer, has addressed allegations about the company’s alleged concealment of XRP sales. This issue has become a focal point given the ongoing litigation Ripple faces with the U.S. Securities and Exchange Commission (SEC).

Schwartz, in an attempt to clarify the situation, has categorically denied that Ripple has attempted to hide its XRP transactions from public knowledge. This statement comes as the SEC prepares its opening argument in the case against Ripple, which has generated considerable speculation among investors and market observers.

The price of XRP, after experiencing a recent decline, appears to have found support and is showing signs of recovery. Currently, XRP value is holding above the psychologically important $0.60 level , consolidating its recent gains in anticipation of the SEC’s next legal move in the case, as we have detailed on ETHNews.

Schwartz also took the opportunity to talk about Ripple’s XRP sales strategy in a recent discussion on X, emphasizing that the firm has managed sales in a way that avoids negatively impacting the coin’s price in cryptocurrency markets.

Additionally, he highlighted Ripple’s effort to secure sufficient XRP reserves for its on-demand liquidity business by sourcing XRP from exchanges in a responsible manner.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628