David Schwartz gives his opinion on whether Ripple will abandon XRP

Ripple’s Chief Technology Officer (CTO) David Schwartz has responded to a persistent misconception in the crypto community regarding the company’s potential move away from its associated token, XRP.

This speculation has been circulating in the XRP community recently. However, after an X-user going by the name Aspen Signals drew attention to a quote by Schwartz on the cover photo of the social media platform, rumors about Ripple giving away XRP began to flourish.

The quote reveals the struggles of betrayal and corruption a finance startup faces as it strives to roll out instant payments to the public. As actions that challenge the status quo prove costly, the startup is forced to choose between its vision and survival.

As expected, the remark sparked a reaction in the crypto community, with some members speculating that Ripple might be planning to abandon XRP.

Ripple CTO responds

Interestingly, Schwartz stepped in to clarify this misconception before it turned into major FUD (fear, uncertainty and doubt). Schwartz responded that the quote does not describe a real-world event, but rather serves as a promotion for a fictional film.

While the subject matter in this quote may resonate with real-world corruption issues startups face in the payments industry, Ripple’s CTO stressed that the specific situation portrayed in the controversial quote did not occur in reality.

This statement suggests that there is no basis for comparing the hypothetical scenario cited with Ripple’s current operations. However, given Ripple’s promise to launch a stablecoin later this year, Schwartz decided it was crucial to clear up this growing misconception.

Ripple announces support for XRP

Rumors that Ripple might abandon XRP have been swirling since the company launched its stablecoin plans. First, critics believe that Ripple intends to replace XRP with its upcoming stablecoin, specifically for cross-border settlements via ODL (now Ripple Payments).

Furthermore, they also suggested that Ripple’s decision to exclude XRP from its liquidity center solution indicates that the company may be moving away from the token.

Responding to the speculation, Ripple CEO Brad Garlinghouse asserted that the company is fully committed to XRP and has no plans to abandon it.

Disclaimer: This content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct in-depth research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.