Ripple’s XRP Hits $2.9 High Amid Criticism of Market Practices 

• XRP surged 400%, reaching $2.9, with 79.54% of its valuation gained in weeks, raising questions about Ripple’s role.  
• Ripple’s leadership faces criticism for allegedly offloading pre-mined XRP tokens, fueling debate on market fairness.  
• Ripple holds 38.04 billion XRP in escrow, gradually releasing tokens to stabilize market dynamics and modernize cross-border payments. 

XRP, Ripple’s native token, has seen an extraordinary price surge of nearly 400% since early November, reaching a remarkable $2.9 its highest value in seven years. The token’s market capitalization now stands at an impressive $146.66 billion, with 79.54% of this valuation added within weeks. However, the rapid ascent has sparked criticism, particularly regarding Ripple’s role in XRP’s market ecosystem.  

Critics Target Ripple’s Management  

Accusations have surfaced against Ripple’s leadership, alleging that the company’s executives are selling billions of “pre-mined” XRP tokens to retail investors. Critics claim this practice compromises market fairness, raising concerns about profiteering. The backlash has fueled satirical depictions of Ripple CEO Brad Garlinghouse, portraying him as a symbol of excessive wealth, adorned in gold chains and bracelets.  

Ripple maintains a significant portion of XRP’s total supply, with approximately 38.04 billion tokens held in escrow. These reserves are gradually released monthly, aiming to provide predictable supply dynamics and stabilize the market. While Ripple incorporates XRP into its services to modernize cross-border payments, critics argue the company’s control over supply raises questions about decentralization.  

Playful Response From Ripple CTO  

In response to the allegations, Ripple CTO David Schwartz chose a light-hearted approach. He shared a GIF referencing “Toy Story,” captioned “Haters, haters everywhere,” adding a humorous tone to the ongoing debate. While Schwartz’s reaction drew mixed responses, it underscored the polarized sentiments within the cryptocurrency community regarding Ripple’s practices.  

Ripple utilizes XRP extensively within its operational framework, emphasizing its role in transforming cross-border transactions. Despite the controversy, the token’s integration into Ripple’s services has contributed to its recent gains. Ripple’s model, which balances token release with market demand, remains a key aspect of its broader financial technology initiatives.