Saturday, August 8, 2020
No menu items!
  • News
  • XRP News
  • Contact Us
More

    Warren Buffett Expert Says XRP Lacks Incentive Structure Needed to Drive Its Price Growth Organically

    Must Read

    Charles Hoskinson Joined Ethereum Classic (ETC) Channel; Did What Craig Wright Can’t Figure Out

    The CEO of IOHK, Charles Hoskinson, who doubles as the co-founder of Cardano (ADA) threw a jibe at the...

    This Could Be the Confirmation of the Partnership between Ripple and Bank of America

    A supposed XRP community member identified on Twitter as Panos has recently shared an email that could answer the...

    VeChain Launches a Market-Ready Blockchain Food Safety Solution Powered By VeChain ToolChain

    VeChain, a blockchain platform designed to enhance supply chain management, has announced the launch of its market-ready blockchain-enabled food...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    As reported by U.today, an investment advisor, Preston Pysh, who founded ‘Buffett’s Book’ podcast, is of the opinion that the Ripple’s digital token XRP, lacks the incentive price structure needed to drive its price growth organically.

    He further averred that the digital currency XRP is centralized, due to the influence of Ripple, the US-based blockchain tech, on the cryptocurrency.

    Is XRP Really Closely Held, Could that Be a Problem?

    As reported by Herald Sheets, the founder of Morgan Creek Capital Management, Mark Yusko, elaborated on the reasons why XRP is not included in the company’s Index Fund. He mentioned that XRP is “too closely held”, which makes it seemingly centralized.

    The former chief market strategist of Ripple, Cory Johnson, had once claimed that XRP was discovered and not created by Ripple Labs. This also is not enough to disprove the centralization of the digital token, owing to the large control of Ripple and some set of individuals.

    It’s learned that relatively 85% of XRP’s total supply is held by Whales, which is another point to prove that the digital currency is “too closely held”.

    It’s also said that Chris Larsen, the former CEO of Ripple, who was recently named as the second richest personality in the crypto ecosystem, has 5.19 billion XRP in his possession.

    Ripple Keeps Facing Accusation of Initiating the Lethargic Price Growth of XRP

    Ripple is believed to hold 60% of XRP in circulation. This alone has attracted tons of criticisms from crypto enthusiasts and XRP community members at times.

    Ripple is continuously accused of initiating the lethargic and dependent growth of XRP price in the market, due to its continuous sales of the digital token. And CEO Brad Garlinghouse had once pointed out that the Fintech wouldn’t be profitable without its scheduled sales of XRP.

    He said, “We would not be profitable or cash flow positive [without selling XRP], I think I’ve said that. We have now.” He, however, claimed that these sales are not meant to manipulate XRP price.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Charles Hoskinson Joined Ethereum Classic (ETC) Channel; Did What Craig Wright Can’t Figure Out

    The CEO of IOHK, Charles Hoskinson, who doubles as the co-founder of Cardano (ADA) threw a jibe at the...

    This Could Be the Confirmation of the Partnership between Ripple and Bank of America

    A supposed XRP community member identified on Twitter as Panos has recently shared an email that could answer the long-standing question about the partnership...

    VeChain Launches a Market-Ready Blockchain Food Safety Solution Powered By VeChain ToolChain

    VeChain, a blockchain platform designed to enhance supply chain management, has announced the launch of its market-ready blockchain-enabled food safety solution powered by VeChain...

    Grayscale Now Has $763.8M Worth of ETH As It Filed To Make Ethereum Trust US SEC Reporting Firm

    The leading cryptocurrency asset fund manager, Grayscale investments, has reportedly filed form 10 with the United States Securities and Exchange Commission for its Ethereum...

    David Schwartz Lists Innovations Associated With XRP to Silence Adam Back

    The Chief Technical Officer at Ripple, David Schwartz, has taken his time to set the record straight for a stern Bitcoin maximalist, Adam Back,...

    More Articles Like This