Ripple Releases $1.38 Billion in XRP Amid Explosive Statements from CTO Emeritus
BeInCrypto
Ripple unlocked 1 billion XRP from escrow while CTO emeritus David Schwartz dismissed claims of secret price-manipulation mechanisms.Summary
Ripple executed its scheduled monthly release of 1 billion XRP, valued at $1.38 billion, from its escrow contracts. This automated process, which began in 2017, typically results in 200 to 300 million XRP entering circulation after the remainder is relocked. Amidst the release, Ripple's CTO emeritus, David Schwartz, addressed community speculation on X, categorically denying the existence of secret tools designed to artificially inflate the token's price. Schwartz argued that the future value of XRP relies on tangible adoption in cross-border payments and decentralized finance rather than theoretical price-manipulation strategies or token burns.
(Source：BeInCrypto)