Ripple CTO Confirms XRP Dumping Accounts For Most Revenue

Reactions in the community have been sparked by David Schwartz’s recent claim that sales of XRP account for nearly all of Ripple’s earnings. The Chief Technology Officer (CTO) of Ripple is David Schwartz. In a recent thread posted by David Schwartz, he discussed the ten allegations against Ripple. According to Schwartz, Ripple never stops selling XRP, which accounts for $980 of every $1000 the company owns.

It is worth noting that most people believe that XRP is centralized rather than decentralized because of how much of it Ripple owns. Given that Ripple has historically focused on the sale and accumulation of XRP, this argument is not without merit. Ripple will have to dump the majority of its XRP to try and fix this issue. Although this is a practical solution, the dump will probably have a negative impact on XRP’s price.

Key XRP Levels To Watch – April 17 

The overall trend of the market is still bullish. The first uptrend wave began as a result of the price’s failure to further sink after hitting the $0.3000 demand level. The upthrust propelled the price upward until the previous resistance of $0.4330 was hit. The bulls also stormed the market at the commencement of the third wave.

Price currently appears to be in a correction phase as the fourth wave continues. According to the Relative Strength Index (RSI), XRP just started recovering from its overbought state. The RSI still remains above the 50.0 level, which indicates that the price is still in the premium zone.

XRP Key Levels

Resistance Levels: $0.4940, $0.5600, $0.6580
Support Levels: $0.4330, $0.3540, $0.3000

Total Market Capitalization: $1.25T
XRP Market Capitalization: $26.48B
XRP Volume: $1.02B
Market Rank: #6

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