Ripple CTO Addresses Rumors of $5 Billion XRP Buy Back

There’s been a rumor circling cryptocurrency-oriented social media circles throughout the past couple of days, that Ripple is planning to buy back 10 billion XRP tokens, currently worth just shy of $5 billion.

  • The first to question the rumors was John Deaton, a lawyer representing thousands of XRP holders, who said he doesn’t believe it until the company itself confirms it.
  • The rumors were spreading like wildfire, though, as it tends to oftentimes be the case.
  • David Schwartz, who is the CTO of Ripple, dismissed them yesterday.

We do sometimes buy XRP. But I don’t know of anything specific that this could be referring to. And there’s no official source mentioned.

  • XRP has failed to move on the rumors, trading at 1.4% loss in the past 24 hours and 1.2% for the past seven days.

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