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Ripple CTO Addresses Rumors of $5 Billion XRP Buy Back

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

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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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