Ripple CTO Defends XRPL Against Centralisation Claims

by

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.

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.

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.

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.

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.



Source link

Related Posts

Leave a Comment