Ripple CEO Brad Garlinghouse has suggested that the company may scale back its sales of XRP, a move that could significantly impact the digital asset’s market dynamics. In a recent discussion with Bloomberg’s Sonali Basak, Garlinghouse acknowledged the ongoing debate over Ripple’s handling of XRP and indicated that changes might be on the horizon.
“At some point, we may not be selling as much,” he stated, addressing the scrutiny Ripple faces regarding its XRP sales strategy.
Addressing Critics and Market Concerns
Garlinghouse also pushed back against critics who have long scrutinized Ripple’s control over XRP. He highlighted the contradiction in complaints, noting that some critics argue Ripple holds too much XRP, while others criticize its decision to sell portions of its holdings.
“There’s always criticism. If we hold too much, we get criticized. If we sell some, we still get criticized,” he remarked, dismissing what he described as misinformation spread by skeptics.
XRP’s Supply and Market Influence
On the topic of XRP’s supply, Garlinghouse noted that the asset has a “slightly deflationary” nature, with the total supply gradually reducing to 99.9 billion XRP. Ripple still holds 42% of the total supply, a fact that has fueled debates about its influence on the cryptocurrency market.
Ripple’s Legal Win Against the SEC
The discussion also covered Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC recently withdrew its appeal against Ripple, marking a crucial legal victory for the company. The appeal, initiated in October under former SEC Chair Gary Gensler, was abandoned, providing Ripple with greater legal clarity.
However, Ripple is still pursuing its cross-appeal against the SEC, signaling that the legal conflict is not entirely over.
Garlinghouse suggested that Ripple is now in a stronger position, shifting from a defensive legal stance to a more proactive one. “It’s a different feeling when you’re on the offense rather than playing defense,” he stated, hinting at a more strategic approach moving forward.
Also Read: XRP Surges 11% as SEC Drops Appeal – Is Ripple’s Bull Run Just Beginning?
With legal momentum on its side and potential changes in its XRP sales strategy, Ripple appears poised to shape its future on its own terms. How these developments will influence the broader cryptocurrency market remains to be seen.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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