The ongoing debate over Ripple, the XRP Ledger (XRPL), and
the possibility of including XRP in a US crypto reserve continues to grow.
Allegations of centralisation have emerged, adding complexity to the
discussion.
In response, David Schwartz, Ripple’s Chief Technology Officer, has
defended the platform’s decentralisation, arguing that XRP’s structure and
mechanisms ensure resilience against manipulation,Dimsumdaily HK reported.
Meanwhile, XRPUSD has remained bearish, adhering to a
trendline. The H1 chart suggests it may have found support at a level where the
price previously reacted.
Critics, especially Bitcoin supporters, remain sceptical of
XRP’s structure. Pierre Rochard, Vice President of Research at Riot Platforms,
argues that Ripple could manipulate the XRPL software, adjust escrow locks, or
flood the market with additional XRP. He believes such actions would undermine
decentralisation and expose the ecosystem to risks.
XRP Drama: Ripple CTO Fires Back at Centralization Claims
The decentralization of XRP is under the microscope again, with Ripple’s CTO David Schwartz dismantling claims from Bitcoin maxi Pierre Rochard.
Rochard accused Ripple of having the power to tweak XRPL code, unlock… pic.twitter.com/NdQKtRHGQB
— Mario Nawfal’s Roundtable (@RoundtableSpace) January 26, 2025
Schwartz Highlights XRPL’s Decentralised Governance
Schwartz countered these concerns, explaining that XRPL uses
a consensus algorithm , unlike Bitcoin’s proof-of-work model. He also noted that
XRPL validators are not paid, reducing the likelihood of fraud or manipulation.
Furthermore, any changes to the network, including forks and supply
adjustments, require consensus from the validators, making unilateral
alterations by Ripple or any party highly unlikely.
The biggest obstacle for the Strategic Bitcoin Reserve is not the Fed, Treasury, banks, or Elizabeth Warren.
It’s Ripple/XRP. They are aggressively lobbying against the SBR by throwing around $millions at politicians, desperately trying to derail it.
They did the same to…
— Pierre Rochard (@BitcoinPierre) January 23, 2025
Earlier, Ripple
CEO Brad Garlinghouse dismissed Rochard’s claims as well, arguing that they
overlook former President Trump’s campaign promises to support American
companies and technologies.
Garlinghouse emphasized that Ripple’s efforts are consistent
with advancing the possibility of a US crypto reserve, which could include
Bitcoin, as reported by Finance
Magnates.
XRPUSD, H1 Chart, Source: TradingView
XRPUSD Tests Key Support Level
The XRPUSD H1 chart shows multiple rejections at the
trendline’s resistance. During the latest rejection, an Evening Star pattern
formed, followed by a strong bearish move. On its way down, the price broke
significant levels, including 3.03350 and 2.92250.
The level of 2.75650 has
acted as support, holding the price steady. Traders may closely monitor price
action around this level to determine its next direction on the intraday
charts.
The ongoing debate over Ripple, the XRP Ledger (XRPL), and
the possibility of including XRP in a US crypto reserve continues to grow.
Allegations of centralisation have emerged, adding complexity to the
discussion.
In response, David Schwartz, Ripple’s Chief Technology Officer, has
defended the platform’s decentralisation, arguing that XRP’s structure and
mechanisms ensure resilience against manipulation,Dimsumdaily HK reported.
Meanwhile, XRPUSD has remained bearish, adhering to a
trendline. The H1 chart suggests it may have found support at a level where the
price previously reacted.
Critics, especially Bitcoin supporters, remain sceptical of
XRP’s structure. Pierre Rochard, Vice President of Research at Riot Platforms,
argues that Ripple could manipulate the XRPL software, adjust escrow locks, or
flood the market with additional XRP. He believes such actions would undermine
decentralisation and expose the ecosystem to risks.
XRP Drama: Ripple CTO Fires Back at Centralization Claims
The decentralization of XRP is under the microscope again, with Ripple’s CTO David Schwartz dismantling claims from Bitcoin maxi Pierre Rochard.
Rochard accused Ripple of having the power to tweak XRPL code, unlock… pic.twitter.com/NdQKtRHGQB
— Mario Nawfal’s Roundtable (@RoundtableSpace) January 26, 2025
Schwartz Highlights XRPL’s Decentralised Governance
Schwartz countered these concerns, explaining that XRPL uses
a consensus algorithm , unlike Bitcoin’s proof-of-work model. He also noted that
XRPL validators are not paid, reducing the likelihood of fraud or manipulation.
Furthermore, any changes to the network, including forks and supply
adjustments, require consensus from the validators, making unilateral
alterations by Ripple or any party highly unlikely.
The biggest obstacle for the Strategic Bitcoin Reserve is not the Fed, Treasury, banks, or Elizabeth Warren.
It’s Ripple/XRP. They are aggressively lobbying against the SBR by throwing around $millions at politicians, desperately trying to derail it.
They did the same to…
— Pierre Rochard (@BitcoinPierre) January 23, 2025
Earlier, Ripple
CEO Brad Garlinghouse dismissed Rochard’s claims as well, arguing that they
overlook former President Trump’s campaign promises to support American
companies and technologies.
Garlinghouse emphasized that Ripple’s efforts are consistent
with advancing the possibility of a US crypto reserve, which could include
Bitcoin, as reported by Finance
Magnates.
XRPUSD, H1 Chart, Source: TradingView
XRPUSD Tests Key Support Level
The XRPUSD H1 chart shows multiple rejections at the
trendline’s resistance. During the latest rejection, an Evening Star pattern
formed, followed by a strong bearish move. On its way down, the price broke
significant levels, including 3.03350 and 2.92250.
The level of 2.75650 has
acted as support, holding the price steady. Traders may closely monitor price
action around this level to determine its next direction on the intraday
charts.