- 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.
I spent two weekends implementing a trading bot that uses an algorithm that's as close to the XRPL's AMM algorithm as possible to trade on centralized exchanges. Here's it trading Solana: pic.twitter.com/9G32958c3p
— David "JoelKatz" Schwartz (@JoelKatz) March 21, 2024
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.
