Trackers and many people in the crypto community dislike the large offer of XRP and this has always been the subject of debate and criticism.

It is known that the greater the supply, the lower the value, and vice versa. Bitcoin, due to its limited and small supply estimated at 21 million bitcoins and the high demand for it, made the unit value of it reach the threshold of 20 thousand dollars. Of course, it is not only the supply that contributed to the value of the currency, but many other basics.

Ripple has approximately 100 billion total supply, of which 48 billion XRP is stored and 45 billion XRP is circulated.

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Ripple sold over $32 million worth of XRP in the second quarter of 2020, while its business posted a dismal quarter.

According to the data on Ripple’s website, Ripple still owns 6 billion XRP (sold in the market strategically and gradually).

It can be said that this has caused a backlash from the coin-following, investor and holder community.

Ripple investors have often revolted against the company and its behavior by offering large amounts of Ripple to the market.

Of course, these criticisms are not new.

Popular reports indicate that the company’s monthly XRP sales have exceeded 196 million XRP since December 2017, when XRP reached an all-time high of $3.50.

This means that over 5.5 billion XRP has been sold so far, which is the equivalent of $3.45 billion to date.

But this year, Ripple has made some token buybacks to support the ever-declining price of XRP.

The company bought just over $45.5 million in XRP in the third quarter of 2020, supporting the coin’s price range between $0.10 and $0.15.

But there may be better news to come for XRP holders.

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According to Ripple Technical Director David Schwartz, the company could burn the $48 billion escrow if the Ripple community votes for such a scenario.

Ripple can burn its XRP:

In a tweet, Schwartz stated that the XRP community can indeed vote for Ripple to burn its entire escrow stock.

Insisting that the Ripple blockchain is very democratic about such decisions.

yes. There will be nothing Ripple can do to prevent this from happening. Public blockchains are very democratic. If the majority wants to change the rules, there is nothing the minority can do to prevent it.

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– David Schwartz (@JoelKatz) December 2, 2020

As he stated on Twitter:

There will be nothing Ripple can do to prevent this from happening.

The Ripple blockchain is very public and democratic.

If the majority wants to change the rules, there is nothing the minority can do to stop them.

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