Rumors Quashed
Ripple’s Chief Technology Officer (CTO), David Schwartz, has dismissed rumors that the company is considering ditching its association with XRP. These rumors had been circulating after a misunderstanding about Schwartz’s cover photo on Twitter.
Schwartz clarified that the lines in his cover photo were part of a fictional movie pitch and did not reflect Ripple’s current situation. He emphasized that Ripple is not facing any challenges that would warrant abandoning XRP.
XRP’s Importance to Ripple
XRP is crucial to Ripple’s operations. The company uses it to facilitate cross-border payments and holds a significant portion of XRP’s supply. Any suggestion that Ripple might abandon XRP would have a negative impact on the token’s price.
Long-Term Plans
Ripple’s President, Monica Long, has confirmed that XRP remains a part of the company’s long-term plans. She explained that Ripple uses a combination of assets to serve its payment customers, and XRP plays a unique role as a bridge asset.
Long also hinted at XRP’s future use in tokenizing more assets on-chain, providing liquidity to these assets.
