A heated debate recently reignited within the XRP community, questioning Ripple’s role and impact on XRP. One XRP enthusiast raised concerns about what Ripple truly brings to the table with XRP, prompting skepticism among community members. Some critics directed their accusations toward Ripple’s top executives, specifically CEO Brad Garlinghouse and CTO David Schwartz.
They accused the Ripple leadership of reducing XRP holdings solely to enrich themselves, using retail investors as on-demand liquidity for their personal gain. This accusation stems from Schwartz’s previous comments about Ripple’s two options: maintaining their current XRP holdings or reducing them.
Ripple CTO Responds to Accusations
When Schwartz was presented with two alternative options—burning XRP or giving it away to committed holders—he immediately addressed the issue. On the topic of burning XRP, Schwartz referred to an example he provided in February, comparing the XLM to XRP chart.
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He pointed out that Stellar’s massive token burn had little effect, as XLM continued to perform similarly to XRP. According to Schwartz, this demonstrates that the primary factors influencing XRP’s price come from external drivers that are common to both XRP and XLM, rather than actions within the ecosystem.
Schwartz Rejects XRP Giveaway as a Viable Solution
Schwartz also dismissed the idea of giving away Ripple’s XRP holdings. He explained that, as he mentioned in a March speech, giving away XRP is effectively the same as selling it, but with added risks.
Specifically, he warned that such giveaways could lead to people spending $0.95 to participate in a $1 giveaway, with the majority of the funds ultimately landing in the hands of fraudsters. Schwartz noted that Ripple had attempted this strategy before, and it only worked until XRP became a liquid asset.
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The discussion around Ripple’s influence on XRP remains a contentious topic within the community. Many enthusiasts express frustration over XRP’s strong reliance on Ripple, despite the adoption and partnerships that the company has facilitated.
They argue that XRP should be seen as an asset independent of Ripple, reflecting a desire for the digital currency to stand on its own beyond the influence of a single company.
