- XRP community member opens a petition for Ripple to increase its utilization of XRP.
- 217 members of the XRP community are in support of the petition for Ripple to keep dumping XRP so far.
Ripple News Today – Ripple controls more than 60% of the total XRP in circulation. Over the years, there have been controversies about Ripple’s utilization of XRP tokens. Many people believe that holding that many XRP tokens give Ripple too much power over the XRP blockchain which is meant to be decentralized. In our previous Ripple News, we talked about how the XRP community was trying to take over Ripple executives because of what they tagged “reckless” dumping of XRP. Today, the case is different. A member of the XRP community has created a petition for Ripple to increase its rate of dumping XRP.
XRP Community Member Wants Ripple to Keep Dumping XRP – Others Share His Sentiment
Yesterday evening, a member of the XRP community called BGIradji opened a petition for Ripple to increase the rate at which it is dumping XRP. This move, the user hopes, will increase XRP utility by placing it in the hands of institutions who want to use it. In BGIradji’s opinion, increasing XRP utility can only do good for the XRP ecosystem and increase the adoption of the XRP token. This is in line with what Ripple’s CEO, Brad Garlinghouse, said in defense of the company when members of the XRP army threatened to fork XRP and take over Ripple executives.
At the time, Garlinghouse said that Ripple was selling XRP tokens to generate revenue to improve the XRP ecosystem. BGIradji said something similar;
I’m gonna start a petition for @Ripple to use more XRP. Use the shit out of it. Invest in more companies. Acquire board seats. Give to more colleges. Free those XRP!”
The petition was created on change.org and was titled “Ripple Must Increase the Dumping of XRP”. At the time of writing, about 217 people had signed the petition. This new petition is the exact opposite of the petition by Crypto_Bitlord. That petition was meant to get Ripple to stop dumping XRP tokens. This particular petition has already gotten over 3000 signatures with a goal of 5000.
XRP (XRP) Price Today – XRP / USD
Keep in mind that Crypto_Bitlord is a member of the XRP community who threatened to fork XRP if Ripple executives continued dumping the token. Crypto_Bitlord believes that the price of the XRP token is falling as a direct result of Ripple releasing too many tokens to the public at the same time. He believes that more tokens in circulation are equal to a lower value and he is not the only one who shares this view. Several loyal members of the XRP community and even some members of other cryptocurrency communities believe that the token is falling because of Ripple’s sales.