CTO Ripple: Burning XRP Is Not a Trigger to Increase Ripple Coin Prices

Bittime - The price of XRP, Ripple's native token, has been a point of contention for some time. Critics have accused Ripple of suppressing prices by flooding the market with tokens held in escrow. 

However, Ripple CTO David Schwartz recently addressed these concerns, stating that burning or gifting XRP is not the answer to increasing its price.

Selling vs. Burning: Strategic Decisions

In a recent X (formerly Twitter) thread, Schwartz responded to accusations that Ripple manipulated prices by strategically selling XRP. He admitted that Ripple had indeed reduced its XRP holdings but highlighted that selling was a more strategic approach compared to burning XRP.

Schwartz pointed out that burning XRP would essentially remove it from circulation, similar to the effect of selling it. He further emphasized his point by referring to X's previous post where he discussed the lack of positive impact on the price after Stellar (XLM) implemented a token burning program.

Gifting XRP: Not a Sustainable Solution

Schwartz also discussed the idea of ​​gifting XRP to the community to increase the price. He refers to another of X's posts where he outlines the weaknesses of this strategy. While gifting may create a temporary price spike, it will not be a sustainable solution.

Focus on Utility, Not Manipulation

Schwartz's statements indicate that Ripple's focus lies on promoting the utility and adoption of XRP in the global financial system, not on manipulating prices through artificial measures. 

He believes that a healthy and organic price increase will follow naturally as XRP becomes more widely used for cross-border payments and other financial services.

Read also: 3 Reasons Why XRP Prices Can Skyrocket and Make Millionaires

Community Reaction and the Way Forward

Schwartz's comments have sparked discussion within the XRP community. Some users praised Ripple's focus on utility, while others remained skeptical about XRP's long-term price prospects. Regardless of the community's immediate response, XRP's future depends on its integration in the evolving financial landscape.

Conclusion

Dismissing burns and bounties as price manipulation tactics, Ripple CTO David Schwartz explained the company's strategy for XRP. Ripple appears committed to driving organic growth by promoting the token's utility in the financial infrastructure. 

While the future is uncertain, Ripple's focus on building real-world use cases could pave the way for a more sustainable increase in the price of XRP in the long term.

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