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- Ripple CEO Brad Garlinghouse hints at a possible reduction in XRP sales amid ongoing criticism from the crypto community.
- Ripple gained momentum after the SEC dropped its appeal, giving the company a more assertive stance in its ongoing legal battle.
- With legal certainty improving, Ripple remains in control, considering adjustments to its XRP sales strategy.
Ripple CEO Brad Garlinghouse has suggested that the company may reduce its XRP sales in the future. Brad Garlinghouse announced this before those who criticized Ripple’s management of XRP assets.
Garlinghouse explains that Ripple encounters multiple conflicting criticisms about its XRP control. Brad Garlinghouse revealed during the interview that Ripple faces conflicting complaints from critics about the company’s grip on XRP assets and the sales of such assets.
Ripples’s CEO Garlinghouse stated in his Bloomberg interview that the company maintains ownership of 42% of XRP’s total supply. The XRP network maintains “slight deflationary characteristics” because its total 99.9 billion units represent reduced availability across the market.
Ripple Seizes Momentum Following SEC’s Dropped Appeal
Ripple faces major changes in its courtroom struggle with the U.S. Securities and Exchange Commission (SEC). A decision by the regulatory agency to dismiss its appeal of Ripple brought Garlinghouse tremendous reassurance for the company.
The Securities and Exchange Commission (SEC) moved forward with their appeal in October when Gary Gensler presided as chairperson. The withdrawal of Ripple’s appeal allows Garlinghouse to see the company in a superior state. The company now takes on an offensive posture because of its new legal approach, according to Garlinghouse.
Ripple maintains its appeal against the SEC while observing the regulatory agency’s decision. According to Garlinghouse, Ripple will pursue its legal defense strategy as it has before.
The steady position Ripple has achieved now leads its leadership to show confidence in the company’s future trajectory. The XRP situation remains undecided, but CEO Garlinghouse has implied that XRP sales could decrease because of market criticism.
Legal developments combined with a changing XRP sales strategy will reshape the position of Ripple and its market standing in cryptocurrencies. The business concentrates on strengthening its industry position by resolving issues that raise concerns from regulatory agencies and marketplace participants as new developments emerge.
The crypto world continues to follow Ripple’s SEC legal standoff as the firm enters a fresh phase of its business operations. Ripple faces potential enhancements in business operations since the court appeal no longer serves as an obstacle.
Also Read: Ripple Expands Into Institutional Custody With ‘Ripple Custody’ Trademark Filing
