Ripple’s Stance on its Obligations

David Schwartz, the Chief Technology Officer (CTO) at Ripple, has recently cleared the air about the company’s obligations. He stated that Ripple should not be expected to act in the interest of XRP holders. His comments stirred a lot of conversations in the crypto community and were in response to claims by Bitcoin advocate Pierre Rochard.

Ripple’s Business Decisions and XRP

Rochard, a Bitcoin proponent and XRP critic, declared that Ripple is not obliged to act in the interest of XRP investors. He also argued that Ripple is free to make business decisions without considering XRP investors. Schwartz endorsed this stance, emphasizing that Ripple’s primary obligation is towards its own operations and shareholders.

Company’s Relationship with XRP

Schwartz further reinforced Ripple’s position and relationship with XRP, likening it to owning an artist’s early work. He stated that the company’s relationship with XRP does not dissolve overnight and that Ripple has been around for about 14 years. Schwartz also highlighted that Ripple has more XRP than it could possibly monetize in a short period. His comments emphasized that any benefit to XRP holders from the company’s business strategy could be incidental rather than mandated.

XRP Investors‘ Hopes and Expectations

Many XRP investors hope that Ripple’s success will translate to positive price action for the token. However, Schwartz’s statements underline that Ripple’s primary duty is to its own operations and shareholders, and not XRP holders. As of the time of writing, XRP was trading at $2.20.