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Ripple CEO Brad Garlinghouse Breaks His Silence on Controversial XRP Sales

  • Alex Dovbnya
    📰 News

    Ripple CEO Brad Garlinghouse has decided that it’s about time to put a stop to all the FUD spreading in the media

Ripple CEO Brad Garlinghouse Breaks His Silence on Controversial XRP Sales
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Contents

Brad Garlinghouse, the CEO of Ripple, says he was “compelled” to comment on the recent controversies that surround the San Francisco-based crypto behemoth.

In a recent thread, he weighs in on a class-action lawsuit, XRP sales, and transparency issues.

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XRP is not a security

One of the biggest concerns surrounding Ripple’s XRP is whether the token can be classified as unregistered security by the U.S. Securities and Exchange Commission (SEC). If the company loses the ongoing court battle, this would cause a massive sell-off of the third biggest cryptocurrency.

Garlinghouse insists that XRP is not a security, and the SEC doesn’t have a final say in that matter. The UK Financial Conduct Authority (FCA), for example, doesn’t consider XRP to be a security token.

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XRP sales are necessary

As reported by U.Today, Bloomberg, while citing the opinions of multiple industry experts, blamed Ripple for stifling the price growth of XRP with its continuous sales.

However, Garlinghouse claims that this is a necessary measure to decrease to increase the adoption of their native token by expanding RippleNet and supporting other XRP-related businesses. Moreover, Ripple actually decreased its sales by volume quarter over quarter.

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Facts only

Garlinghouse also states that their quarterly reports serve as proof that they set industry standards when it comes to transparency (and it’s not even debatable).

Earlier, Garlinghouse penned an open letter to the US Congress, asking lawmakers not to paint all cryptocurrencies with a broad brush.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
    📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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