Ripple’s CTO Breaks Down Their Position as Top XRP Sellers

Ripple CTO: XRP Central to Our Vision, No Plans for Abandonment

Ripple’s Chief Technology Officer David Schwartz recently elucidated the company’s extensive sales of XRP. He unveiled the rationale behind Ripple’s significant XRP sales, shedding light on the company’s strategic approach to managing its cryptocurrency holdings.

Ripple’s XRP Holdings Breakdown

Ripple stands as the largest holder of XRP in the cryptocurrency market. Schwartz emphasizes that the only viable alternative to selling XRP is holding it indefinitely, a strategy Ripple finds impractical. The first quarter report of 2024 discloses comprehensive details regarding Ripple’s XRP holdings, delineating between two distinct categories: XRP immediately available in Ripple’s wallets and XRP locked in on-ledger escrow accounts. 

These escrow accounts, designed to release XRP monthly over a 42-month period, offer a controlled release strategy. Notably, Ripple cannot access the escrowed XRP until it adheres to the predetermined release schedule. A significant portion of the monthly released XRP is subsequently returned to the escrow account, underscoring Ripple’s meticulous approach to managing its cryptocurrency reserves.

Related article: Ripple CTO Unveils Details of Upcoming Stablecoin

Quantifying Ripple’s XRP Reserves

As of March 31, 2024, Ripple holds 4.8 billion XRP readily available and an additional 40.1 billion XRP locked in on-ledger escrow. XRP, valued at around $0.50 per token, has shown an upward trend since May 2023, trading within a positive trajectory.

Related article: Ripple CLO’s Allegorical Comparison: SEC vs. Kafka’s ‘The Trial’

However, recent fluctuations have placed XRP near its support level following a notable 22% decline in mid-April. The upper dynamic resistance stands at $0.80 per token, indicating a pivotal juncture for XRP’s price movement. The pressing question revolves around XRP’s ability to rebound from its recent downturn and the role Ripple’s ongoing token sales will play in this recovery process. 

With a strategic sales approach and a meticulous management of its cryptocurrency reserves, Ripple aims to navigate the dynamic cryptocurrency market while ensuring the sustainable growth and stability of XRP.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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