Ripple Price Rebounds After CEO Pledges 7 Billion XRP Donation
The price of XRP is on the rise again following the resignation of a key Ripple Labs board member and subsequent charitable commitment by its CEO Chris Larsen. Late last week, Kraken CEO Jesse Powell resigned from the board of the San Francisco-based payment network provider. However, the decision also returned attention to a long-contentious issue surrounding the company, the allocation of large portions of Ripple's native currency - XRP - to founders. As a result of the decision, Ripple Labs CEO Chris Larsen has committed to donate large portion of the digital currency he owns to a....
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Ripple has bought back shares from its Series C funding round, which raised the company’s valuation to $15 billion, according to CEO Brad Garlinghouse. He added that despite the lawsuit by the U.S. Securities and Exchange Commission (SEC) over the status of XRP cryptocurrency, Ripple had the best year on record.
Ripple’s $15 Billion Valuation and ‘Best Year on Record’
Ripple CEO Brad Garlinghouse announced via Twitter Wednesday that Ripple has bought back its Series C shares at a $15 billion valuation.
The CEO described that....
The creator of Ripple and original founder of Mt. Gox, Jed McCaleb, recently made a donation worth roughly $500,000 in XRP to artificial intelligence researchers the Machine Intelligence Research Institute (MIRI). Going on the XRP-USD exchange rate at the time of the donation, McCaleb's became the largest single contribution in the Institute's history. Though values have fluctuated and MIRI will not convert the donation into half a million US dollars straight away, it is still a startling amount and could be worth even more if the XRP value rises in future. At the time of writing 1 XRP,....
Photo by _Mo. Ripple Labs has weathered a difficult week that seemed like it could only get worse. The company's co-founder publicly announced he was liquidating his XRP holdings, which caused investor panic and caused the price of XRP to drop over 50%. Soon after, a prominent Ripple board member resigned from the company, leaving behind some strong words for the Ripple leadership team. The company responded by sending him a cease and desist letter, which he posted online alongside an emotionally charged response. It seemed as though Ripple Labs was headed for a messy legal battle, which....
One thing that has emerged that could influence the XRP price has been the possibility of Ripple carrying out an Initial Public Offering (IPO). This would mean that shares of the crypto firm would become publicly tradable like that of Coinbase’s COIN stock. However, even more prominent among investors is the possibility of how high the price of the shares could trade. Financial Expert’s Ripple Video Resurfaces The rumors had first begun with some members of the XRP community talking about a possible IPO. Like rumors are wont to do, it quickly took on a life of its own and grew from there.....
XRP has struggled to regain bullish price momentum this month, with the crypto going on six days of red candle close last week. The XRP community appears to be feeling the effects of this lack of momentum, as speculations have begun to circulate about a potential catalyst for the next XRP price surge. Related Reading: What To Expect This Month For XRP Price According To Historical Data Word on the street now is that Ripple plans to burn the 41.9 billion XRP tokens they have locked up in escrow. Although this hasn’t been confirmed yet, some say this move could send the value of XRP....