Ripple Latest News Today – Top Headline for Ripple XRP, January 16th, 2020

  • Ripple’s lobbyists are insiders – Ripple’s CTO
  • Ripple release 100 Million XRP From Escrow Wallet

Ripple’s Chief Technical Officer, David Schwartz recently commented on the issue about Ripple’s lobbying strategies over the years, Clearing the air, Schwartz stated: “the lobbyists are now in-house.” Schwartz shared this on his Twitter page when issues on Ripple’s lobbying in 2019 sprang up speculative conversations on the social media platform, mostly among the XRP community.

In 2019, Ripple’s lobbying outflow reduced by 62% after $170,000 was spent lobbying that same year. In 2018, $450,000 petitioning outflow was disbursed by Ripple. Although, while lobbying of money is considered normal among companies globally, a prominent member of the Ripple community on Twitter, Eric Dadoun, shared some views that may erupt due to the influence of the lessened expenses.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.241
0.090%

Eric stated that while FUD purveyors would think the reduction indicates failure for Ripple as the company has nothing left to lobby for, and with the XRP News which states that XRP is just a sham. Positive fan of the Ripple community would consider less lobbying to signify growth for Ripple. Finally, Eric declared that “the builders are busy but we’ll argue for sport anyways.”

David Schwartz also shared his stance on the issue, stating: “Or the lobbyists are now in-house.” Referencing Schwartz’s claim, the volume of Ripple’s officials involved in lobbying in 2019 increased massively compared to 2018.

It was gathered that 33% of the lobbyists in 2019 were Ripple’s employees, as against 20% in 2018. This affirms Shwartz’s statement, Ripple probably has more in-house lobbyists in 2019.

XRP News – Ripple release 100 Million XRP From Escrow Wallet

Ripple recently executed another act which some considered to be influencing the price of the token negatively. Ripple just unlocked another huge amount of XRP token from its escrow wallet. The amount as calculated by Whale Alert amounts to a hundred million XRP (worth $23,823,138). The fund was released at a time when the coin is trading positively after a long-awaited period.

Notwithstanding Garlinghouse’s statement that Ripple cannot influence Ripple XRP Price, the XRP community thinks the recent coin unlock is yet another shot dedicated to profiting Ripple while dumping XRP on investors.

XRP Price Prediction – Ripple XRP Price Prediction

The release of these coins has sprung up conversations by investors, who think Ripple is not considerate on the effect the released coins might have on the price of its native token. Previously, the coin started increasing alongside other coins in the market, regaining the $0.24 level. currently, the coin is trading at $0.23 after a slight decline, showing an overall growth of 7.23%.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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