Rumors: Ripple Start Buying Back XRP Tokens from the Market
It was recently revealed that Ripple, fintech unicorn behind the third-largest cryptocurrency, has begun to repurchase XRP from the open market. The revelation has raised many questions about the future of digital assets, with enthusiasts speculating about what it could mean.
Ripple Buying XRP From Market
Meanwhile, in a recent report, Ripple revealed that it continues to focus on programmatic sales, focusing on over-the-counter sales to provide more XRP liquidity for customers “demand and liquidity. The company has also found that it is now buying back X RP from the secondary market.
Ripple has not yet specified how much XRP will be repurchased but added that it would continue to buy the cryptocurrency at market prices, as it plays a vital role in the liquidity process. The news that Ripple is now a buyer for XRP has caught the attention of many enthusiasts who are discussing what Ripple’s move could mean for this cryptocurrency. An editor named “Sheep” pointed out to me that “Ripple is now repurchasing XRP.
What This Could Mean For XRP
Some people argue that this is essentially market manipulation by Ripple. In contrast, others claim that Ripple merely is buying XRP at market prices, which means that the cryptocurrency will rise in the future. Some say it’s an incredibly bullish signal, which means Ripple’s business has managed to buy back XRP, which reduces supply and demand and therefore, price. Still, not everyone is thrilled with the idea that Ripple could be a buyer.
Some crypto enthusiasts disagree with Ripple’s decision to use XRP as a proxy for the future of the cryptocurrency market and its future direction. We will have to wait and see how things develop in crypto, but I am curious to see what happens and how it all turns out.
