Ripple “XRP” is one of the top ten currencies in terms of total market capitalization in the crypto market, ranking third after Bitcoin and Ethereum.

Ripple’s performance until the end of 2019 was lackluster compared to other alternative cryptocurrencies.

Which led many commentators to say that Ripple was behind it.

Ripple CEO Brad Garlinghouse responds and states that the company has no plans to “unload” its associated XRP despite selling large amounts of it in December.

On January 5, “Brad Garlinghouse” spoke in an interview with CNN, and in that interview, he added a new controversy to the debate about Ripple’s relationship with the XRP currency.

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Then Ripple gained 10% in the last 24 hours.

Ripple founder: The company does not control the price of Ripple (XRP)

According to the network CNN Garlinghouse stated:

In the Ripple community, XRP is the biggest owner and the point I made is that we are the party most interested in the success of the XRP ecosystem.

On the topic of how Ripple succeeded in managing ownership, Garlinghouse confirmed that his company owns a lot of XRP tokens.

Thus, they are interested to see the token succeed.

Regarding the issue of dumping and dumping the market with Ripple, he said that it is not in Ripple’s interest to do so.

He also revealed that Ripple went ahead and locked most of the XRP it owned in collateral, to ensure that executives couldn’t touch it.

These comments contradict the movements of the Ripple market in 2019 and before.

Jed McCaleb Sells Half Of The 4.5 Billion XRP He Received Ripple

Previous reports revealed that the company has long been dumping XRP in large quantities.

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Last year, Ripple sold more tokens than ever before.

The company released 1 billion XRP at the beginning of 2020 worth about $200,000 in escrow as part of its planned operations.

In December, XRP reached its lowest level in two years.

The coin dropped below $0.20, and at one point it was trading almost 96% off its all-time high of $3.40.

Ripple recently witnessed some recovery and managed to achieve some gains of about 10% in the last 48 hours, as the currency broke the $0.20 barrier.

Despite Ripple’s token stake, Garlinghouse continued to insist and vehemently denied that the company could influence the price of XRP.

He protested loudly when asked about this possibility and likened the situation to major bitcoin investors:

Ripple cannot control the price of XRP any more than whales can control the price of Bitcoin.

XRP whales will have ‘virtual’ restrictions:

Garlinghouse explained that Ripple will never respond adequately to other major investors that hold a significant share of the XRP supply.

In what appears to be a desire to influence the market, Garlinghouse has positioned Ripple as the holder of the token like other investors, stating:

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There are times when we work with investors or we may say: Hey, we want to buy $10 million in XRP, and we will have barriers to prevent flooding the market and not affect the price of Ripple.

In conclusion, he explained that such interventions were hypothetical, stating:

We don’t want another party to buy a whole lot of XRP and dump it into the market, so we would in theory have restrictions on what they can sell and how often, usually those based on market size.

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