XRP News: Ripple CTO Clarifies XRP Inflation Concerns and Defends Company’s Rights Amid SEC Lawsuit

In a recent development, Ripple’s Chief Technology Officer (CTO), David Schwartz, has clarified several concerns related to the XRP cryptocurrency. Schwartz’s statements come at a crucial time, amidst heightened scrutiny following the ongoing lawsuit between Ripple and the Securities and Exchange Commission (SEC). Here’s a summary of the key details and developments.

Ripple CTO Refutes XRP Inflation Claims, Defends Right to Sell Holdings

Ripple CTO Schwartz reaffirmed that the Ripple Ledger (XRPL) does not allow for minting additional tokens under any circumstances. He also defended Ripple’s right to sell XRP, a stance that has sparked debate within the Ripple cryptocurrency community. The discussion comes amid heightened scrutiny following the ongoing XRP lawsuit against the SEC and concerns over Ripple price USD movements. Schwartz addressed claims that Ripple XRP could be inflated by minting new tokens, clarifying that XRPL’s code strictly prohibits the creation of new XRP.

Kimchi Premium and How It Impacts XRP Price

Excitement has persisted around XRP price as it made a comeback after securing U.S. crypto reserve status in a recent Trump announcement. Some interesting observations around the cryptocurrency have also made their way into the mainstream media. The spotlight on XRP recently revealed that South Korean crypto exchange UpBit currently holds double the Ripple-native coins as Binance, the leading exchange by volumes. This impressive lead in terms of XRP holdings is not just another random outcome and reveals a lot about XRP demand. South Korea is one of the Asian countries with the highest levels of crypto adoption. XRP is particularly quite interesting to South Korean holders on account of its potential to change the traditional finance landscape.

A $99 XRP Price Would Skyrocket Its Market Cap to $5.7 Trillion, Bigger Than Bitcoin: Is It Feasible?

Crypto expert Javon Marks predicts that XRP could reach $99, a 3,900% increase from its current price of $2.58. If this forecast comes true, XRP’s market capitalization would soar to $5.7 trillion, exceeding Bitcoin and Ethereum. Marks bases his prediction on XRP’s past price fluctuations, particularly its surge in 2017, and its potential for growth in cross-border payments.

Ripple News Today: Major XRP Update Drops – What’s Changing on the Ledger?

XRP Ledger has introduced rippled version 2.4.0, a significant update aimed at enhancing security, compliance, and overall efficiency. RippleX announced the release, highlighting a series of new features, bug fixes, and amendments designed to optimize the network. One of the standout features of this update is DynamicNFT (XLS-46). The amendments must secure at least 80% validator approval over two consecutive weeks before activation, ensuring decentralization remains intact.