Business
Ripple CTO says community could demand billions in XRP to burn – ZDNet
Such a move would be the decision of the majority.
Ripple’s chief technology officer (CTO) David Schwartz has confirmed that the company could be forced to burn billions in XRP if the community willed it.
Ripple, a currency exchange network that offers the XRP token — currently trading at $0.62 — cannot be mined. There are 100 billion coins available, roughly half of which are held by Ripple.
At its all-time high, XRP was valued at $3.40. It is expected that a breakout could take place soon, pushing the price beyond the $1 mark.
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