Garlinghouse Says Ripple Remains Committed to XRP as Token Tests $0.99

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Garlinghouse Says Ripple Remains Committed to XRP as Token Tests $0.99

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XRP

Ripple CEO Brad Garlinghouse rejected claims that the company is dropping XRP for its RLUSD stablecoin. Meanwhile, XRP slid to the lower edge of its trading channel near $0.99, according to crypto trader Ali Martinez.

Ripple CEO Brad Garlinghouse has pushed back on claims that the company is abandoning XRP in favour of its RLUSD stablecoin. Garlinghouse said Ripple remains completely committed to the XRP ecosystem.

He stressed that XRP is required to use the XRP Ledger. That matters because RLUSD runs on the ledger, where every account needs an XRP reserve and every transaction fee is paid in XRP. About half of all RLUSD is now issued on the XRP Ledger.

The comments come as XRP faces a key test on the chart. According to crypto trader Ali Martinez, the token failed to break above $1.55 at the top of its trading channel. It has since slid back to the channel's lower edge near $0.99.

Holding that level is critical. A break below could open the way to a deeper drop toward $0.80.

Source: Coinpedia

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