Ripple CEO has asserted that Ripple cannot control the price of XRP anymore.

The CEO of blockchain network Ripple, Brad Garlinghouse says in a recent interview held on 5th Jan with CNN that Ripple does not plan to dump its digital currency XRP despite the fact that it has gained 10% during the last 24 hours.

ALSO READ: Binance Futures added perpetual contracts for XRP/USDT with leverage up to 75x

He rejects the notion that the company could affect the price value of XRP. In his interview, he said:

Ripple can’t control the price of XRP any more than the whales can control the price of Bitcoin

Furthermore, he told the network that the company Ripple is the owner in the XRP community and when asked about the ownership of Ripple, Brad stated:

Yes, Ripple owns a lot of XRP, we’re very interested in the success of XRP, but the accusations of us dumping, that’s not in our best interests to do that […]. We would never do that and in fact, we’ve taken steps to lock up most of the XRP we own in escrows so we can’t touch it.

ALSO READ: The South Korean Presidential Commission Wants to Bring BTC Derivatives Into Mainstream

Recently at the beginning of the year 2020, the company Ripple had released $200,000 worth one billion XRP from an escrow.

Ripple CEO called Ripple as a major token holder and said that the company will not give the response to all the big investors who have a significant share of XRP.

At the end of his interview, Brad Garlinghouse said that we do not want any other party to buy a bunch of XRP and dump it into the market as he says:

We don’t want some other party buying a whole lot of XRP and dumping it on the market, and so we would hypothetically have restrictions about what they could sell and how often, and usually those are based on volume in the market.

ALSO READ: Bitcoin is going to touch $9k in January, claims Hedge Fund CEO