Ripple’s Chief Technology Officer (CTO), David Schwartz, has stepped forward to address the recent rumors circulating within the XRP community regarding a speculated 10 billion XRP buyback. In response to these claims, Schwartz emphasizes that there are no specific plans for such a buyback at present.
Origin of the Rumors and Community Attention
The rumors originated from an articleS AND twitter. Despite the lack of an official source supporting the rumors, they quickly gained attention within the XRP community, leading to skepticism and curiosity among investors and enthusiasts.
Ripple’s Stance on XRP Buybacks
While Ripple does engage in purchasing XRP tokens to ensure an adequate supply for their on-demand liquidity service, Schwartz stresses that the company exercises caution in these transactions. The quantity and sources of XRP purchased are carefully managed to mitigate exposure to the market.
Ripple’s Commitment to XRP and its Ecosystem
Ripple’s presence within the XRP ecosystem remains significant, with the company currently holding approximately 41.9 billion XRP tokens. These tokens play a crucial role in Ripple’s financial services and its overall contribution to the ecosystem.
Upholding Transparency and Dispelling Misinformation
Schwartz acknowledges the importance of transparency and reaffirms that official statements should be the primary source of information. He encourages the community to rely on verified sources and to seek clarification from Ripple directly.