David Vance

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<p>In a recent exchange on X, Ripple’s Chief Technology Officer David "JoelKatz" Schwartz responded to allegations suggesting that Ripple had been manipulating the price of XRP through its programmatic sales.</p>
<p>Schwartz <a href="https://twitter.com/JoelKatz/status/1758986974239863032">categorically denied</a> these accusations, stating that Ripple had ceased its programmatic sales of XRP as of the first quarter of 2023, as detailed in Ripple’s Q1 2023 XRP Markets Report.</p>
<p>He further elaborated that Ripple had always endeavored to minimize the price impact of such sales, expressing confusion over the alleged motive behind such manipulation claims.</p>
<h2 id="skepticism-and-clarifications">Skepticism and clarifications</h2>
<p>The announcement, however, was met with skepticism from parts of the XRP community. An X user under the handle @GenesisLedger accused <a href="https://u.today/ripples-schwartz-shares-party-photo-with-ceo-garlinghouse">Schwartz</a> of misleading the community about the cessation of programmatic sales, pointing out a reduction in Ripple's XRP holdings by over 700 million in Q4, 2023.</p>
<p>Schwartz refuted these claims by stressing Ripple's transparency in its sales reports, arguing that the information provided was both clear and highlighted to avoid any misunderstandings.</p>
<p>Despite this, accusations persisted regarding Ripple's disclosure of its sales methods post-programmatic sales, with critics pointing to a lack of transparency in on-demand liquidity (ODL) numbers post-Q1, 2023, and questioning the effectiveness of Ripple's payment solutions.</p>
<h2 id="explaining-programmatic-sales-and-odl-transactions">Explaining programmatic sales and ODL transactions</h2>
<p>In response to requests for clarification, Schwartz provided detailed explanations of the terms "programmatic sales" and "sales in connection with ODL."</p>
<p>He described programmatic sales as market-making activities on exchanges with a net bias toward selling, intended to facilitate liquidity. ODL sales, on the other hand, are tied to Ripple's payment solutions, where <a href="https://u.today/xrp-paints-biggest-bullish-sign-in-2024">XRP</a> is used as a bridge currency for international payments, such as converting to Mexican pesos for local transactions.</p>
<p>Schwartz’s clarification aimed to demystify Ripple’s operational strategies and their impact on XRP’s market dynamics, emphasizing the company's commitment to transparency and the minimization of market impact.</p>

Ripple Exec Denies XRP Price Manipulation

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