In a recent statement, Ripple’s Chief Technology Officer, David “JoelKatz” Schwartz, addressed the ongoing criticism surrounding the company’s sales of XRP. As one of the top cryptocurrencies in the market, XRP has faced scrutiny for its fluctuating value and the role of Ripple in its price movements.

Schwartz firmly stated that Ripple has every right to act in its own interest, just like any other company. He emphasized that Ripple is a business and must make decisions that benefit its growth and success. This includes selling XRP to fund operations, partnerships, and investments.

However, Schwartz also acknowledged the concerns of the XRP community and assured that Ripple is committed to responsible and transparent sales. He explained that the company has been gradually reducing its XRP sales and has even suspended programmatic sales altogether. This move was made to address the concerns of market participants and to support the overall health of the XRP ecosystem.

Furthermore, Schwartz highlighted that Ripple’s sales of XRP are not the sole factor affecting its price. He pointed out that the market is influenced by various factors, including demand, adoption, and regulatory developments. He also noted that Ripple’s sales are a small fraction of the total XRP trading volume, and the company has no control over how individuals or institutions choose to use or hold XRP.

In conclusion, Schwartz emphasized that Ripple is committed to the success of XRP and the overall growth of the cryptocurrency market. He urged the community to focus on the progress and potential of XRP, rather than solely on its price movements. As Ripple continues to innovate and expand its partnerships, the future of XRP looks promising, and the company will continue to act in its own interest to drive its success.