Ripple CEO Says They “Can’t Control XRP Price More Than BTC Whales”

Brad Garlinghouse who is the Ripple CEO says that the company does not want to “dump” its associated XRP cryptocurrency even despite selling huge amounts of it on the market. The latest cryptocurrency news feature Garlinghouse who had an interview with CNN on January 5 and added fresh contention to the debate about Ripple and its relationship to XRP. Meanwhile, the XRP token recently gained 10% which makes this topic even more interesting.

“In the XRP community, Ripple is the largest owner, and the point I have made is we’re the most interested party in the success of the XRP ecosystem,” Garlinghouse told CNN.

When it comes to the actual managing of the XRP ownership, the Ripple CEO says:

“Yes, Ripple owns a lot of XRP, we’re very interested in the success of XRP, but the accusations of us dumping, that’s not in our best interests to do that […]. We would never do that and in fact, we’ve taken steps to lock up most of the XRP we own in escrows so we can’t touch it.”

The comments are now numerous and Ripple making moves in 2020 is obviously a hot topic in the XRP news today. At the start of 2020, the company released even 1 billion XRP which is worth around $200,000 – from escrow as part of its planned operation.

Meanwhile, XRP itself hit more than two-year lows in December and dropped below $0.20 at one point, trading around 96% below its all-time high of $3.40. A recovery which brought 9% gains possibly came as the Ripple CEO says a lot of optimistic stuff about the coin’s future.

Garlinghouse was not finished. The Ripple CEO says “Oh, no” when asked about the possibility of Bitcoin influencing XRP’s price. His comments expanded and he said that “Ripple can’t control the price of XRP any more than the whales can control the price of Bitcoin.”

Nonetheless, the CEO of ripple also claimed that the company would not respond well to other major investors who own a significant share of the XRP supply. In what appeared as a wish to influence the market, Garlinghouse positioned Ripple as the enduring major token holder that is going forward.

“There are times when we work with institutional investors or might say, ‘Hey, we want to buy $10 million of XRP,’ and we would have lock-ups to prevent them from dumping on the market,” he continued.

The CEO of Ripple concluded the interview by stating the following:

“We don’t want some other party buying a whole lot of XRP and dumping it on the market, and so we would hypothetically have restrictions about what they could sell and how often, and usually those are based on volume in the market.”