XRP has been greatly impacted by the recent market downturn and has been unable to put any significant distance between its 2018 lows and its current prices, despite the upwards momentum that the aggregated crypto markets have incurred throughout the first half of 2019.
Now, Ripple’s CEO took to CNN to attempt to dispel the FUD that has resulted from XRP’s poor price performance, which many investors blame on the company’s quarterly token sales.
Brad Garlinghouse Attempts to Dispel FUD, But Are Investors Swayed?
The anger amongst embattled XRP investors reached a boiling point last month when one popular community member – Crypto Bitlord – threatened to fork XRP.
In an interview with CNN’s First Move earlier today, Ripple’s CEO Brad Garlinghouse explained that his company is the largest member of the XRP ecosystem, and as such it is in their best interest to do what is best for the cryptocurrency.
“In the XRP community, Ripple is the largest owner, and we are the most interested party in the success of the XRP ecosystem,” he noted.
Furthermore, Garlinghouse later emphasized this notion in a tweet, adding that it is “in our [Ripple’s] best interest to maintain a healthy XRP ecosystem.”
Thanks @jchatterleyCNN for having me on to address all the FUD about @Ripple and #XRP – it’s in our best interest to maintain a healthy XRP ecosystem, and I'm happy to put any rumors of the contrary to rest https://t.co/kmRypCqhxn
— Brad Garlinghouse (@bgarlinghouse) September 12, 2019
He also said that Ripple can’t influence the price of XRP any more than a whale can control the price of Bitcoin, which may be a slight understatement while considering the massive sway the company has on the crypto’s price action.
While looking at the response to the CNN interview, it does not appear that the community found Garlinghouse’s attempt to dispel the FUD surrounding Ripple and XRP satisfactory, as Crypto Bitlord – the community member who stands at the helm of the so-called “community takeover” – called his answers to the host’s questions “dodgy.”
“Very very dodgy answers on behalf of Brad. The fact he couldn’t answer most questions straight concern me even more. Notice how he tries to put distance from $XRP and won’t actually say who’s using XRP? Cracks are starting to show,” he boldly stated.
https://twitter.com/Crypto_Bitlord/status/1172201576951234560
Unless XRP begins incurring any significant and sustainable upwards momentum, it is highly likely that embattled investors will continue growing increasingly frustrated with Ripple’s quarterly token sales, which could perpetuate the ongoing “community takeover,” and could even lead the proposed XRP fork to come to fruition.