Ripple’s Foundation Denies Rumors: XRPLF Will Not Abandon XRP

Ripple’s foundation, the newly founder XRP ledger foundation actually, denied the rumors that they will not abandon XRP as the main token and they won’t invest in the development of the XRP ledger in the future as we are reading more in the XRP news today.

The newly formed foundation will not take over the non-circulating XRP supply from the main platform as Bharath Chari, the spokesman of the newly founded Ripple’s Foundation, XRPLF, established on September 24, commented. He spoke in an interview saying that Ripple will not invest in the development of XRP ledger in the future. The rumor came up in the community after the foundation as the newly formed foundation says they want to drive growth and innovation as well as the development of the ledger and the community.

The ideas created confusion within the community because they are overlapping with the ones of Ripple to some extent. However, Chari rejected speculations that the XRP ledger foundation will lead the future development of the XRPL while Ripple will not invest in the future of it heavily. According to the XRPLF spokesperson, Ripple will still play a key role in the development:

“We don’t see this as being the case at all, even though this question is better answered by Ripple. As in the case of many open-source projects, stakeholder companies invest time and resources in helping develop it. The XRPLF sees Ripple in a continued role as a key developer on both the technical and business aspects of the XRPL. Furthermore, the XRPLF is only an entity that promises to act in the best interests of the XRPL. There is no question of controlling an open, decentralized ecosystem like the XRPL.”

Today we launched the XRP Foundation, an independent non-profit, focusing on the growth, innovation, and development of the XRPL and XRP community. With support of industry leaders, academics, and community members, we can ensure XRPL is well-positioned for the future (1/3)

— XRP Ledger Foundation (Official) (@XRPLF) September 24, 2020

Regarding the non-circulating supply of the coin under Ripple’s control, the Forbes correspondent asked if Ripple will transfer a huge portion of the non-circulating supply to the XRPLF in order to make XRP Ledger more decentralized as Chari replied:

“The non-circulating supply isn’t of any concern to the XRPLF. We are purely focused on the health and forward direction of the XRPL. As answered earlier, and also indicated in some other statements by Ripple, they are committed to the greater good of the XRPL, including devoting resources to develop on it.”

Chari added that XRPLF doesn’t have any agreements with Ripple to allocate the share of non-circulating XRP delivery and explained that the foundation is only focusing on the original idea. There’s also no agreement with Ripple to take over the software repository of the ledger but they will work their way through merge access and towards repository and packaging.