David Schwartz Says Ripple Lacks Means to Directly Boost XRP Price

TLDR

• David Schwartz said it is now difficult to argue that Ripple has any hidden tool to boost the XRP price.
• He explained that years of operation without such action weaken claims of a secret price mechanism.
• Schwartz stated that Ripple has openly shared its strategy and is not hiding any large plan.
• The discussion followed comments from Elon Musk about crypto assets, where he said most are scams.
• Schwartz agreed with Musk’s view but said there is no consensus on which cryptocurrencies have real value.

Ripple’s former CTO David Schwartz, rejected claims that Ripple can secretly boost XRP’s value at will. He said long-term developments weaken arguments about any hidden mechanism. He also stated that Ripple has shared its strategy openly without hiding any large plans.

XRP Price Debate Faces Fresh Scrutiny

Schwartz addressed questions from the crypto community on X about XRP price control claims. He said earlier speculation once sounded believable to some observers. However, he added that time has reduced the credibility of such arguments.

He explained that Ripple has operated for years without using any supposed hidden tool. Therefore, he said it makes little sense to assume such a mechanism still exists unused. He stated, “It is nearly impossible to believe Ripple has kept such a tool unused.”

He also clarified that Ripple explains its actions and long-term goals publicly. While the company does not reveal every detail, it avoids secrecy around major strategies. He said there is no “grand conspiracy,” based on his knowledge.

Community members had suggested Ripple could trigger XRP price gains through internal products. They mentioned platforms like Ripple Prime and Ripple Treasury in discussions. Schwartz responded that such assumptions lack strong evidence.

He added that market behavior depends on broader factors, not a single company’s action. Therefore, he rejected the idea of direct price manipulation through internal systems. His response aimed to address persistent claims within the XRP community.

Musk Comment and Crypto Merit Debate

The discussion began after Elon Musk commented on crypto assets and their value. Musk said only a few cryptocurrencies have real merit, while most are scams. His statement sparked further debate across the crypto community.

Schwartz agreed with Musk’s general observation about scams in the market. However, he pointed out that there is no shared agreement on which assets hold value. He said different groups support different tokens without consensus.

He stated that people often agree on the problem but not on specific solutions. Therefore, disagreements continue across the industry about asset credibility. This lack of agreement affects how users evaluate tokens like XRP.

Some community members then raised ideas about XRP supply reduction strategies. They suggested burning escrowed tokens could increase scarcity and drive price gains. Ripple currently holds about 33 billion XRP in escrow accounts.

Schwartz responded by referencing past events in the crypto market. He pointed to the Stellar Development Foundation’s token burn in 2019. The foundation removed 55 billion XLM tokens from circulation.

He explained that the large burn did not change XLM price trends. Instead, the token continued to follow general market patterns. He said this example shows that supply reduction alone does not guarantee price increases.

Schwartz repeated that burning XRP escrow funds would waste resources without clear benefits. He maintained that such actions would not produce expected market reactions. His latest comments reflect Ripple’s consistent stance on XRP price dynamics.

The post David Schwartz Says Ripple Lacks Means to Directly Boost XRP Price appeared first on CoinCentral.