How Much Will XRP Be Worth If Ripple Burns 50B Of XRP Tokens?

How Much Will XRP Be Worth If Ripple Burns 50B Of XRP Tokens?

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During a recent interview, Ripple CEO Brad Garlinghouse said that he is always open to new ideas that are good for the XRP ecosystem when asked about whether the firm would burn the coins held in its escrow. He said: "I don't rule anything out and I think to the extent that there's things that make sense for the XRP ecosystem then certainly Ripple would look at that."

Now XRP fans are suggesting Ripple should Ripple burn 50% of XRP’s supply to pump its price. And in today’s video we are going to discuss the same. But before we get into the video, make sure you subscribe to our channel and hit that bell icon to never miss an update!

A bunch of XRP fans are getting behind a proposal led by a prominent crypto trader that Ripple should burn half the XRP held in its reserves. The logic here is that by reducing the supply, the coin’s price will rise more easily, making a mint for everyone involved.

The petition, started by trader Crypto Bitlord who has more than 100,000 followers on Twitter—on August 5, has over 300 signatures so far. It recommends that Ripple no longer release its supply of XRP onto the crypto market, suggesting this will lead to a pump, “like the good ol days.”

“Ripple continue [sic] dumping billions of XRP on us, crashing the price!” the petition states, adding, “Sure we know that XRP is a solid coin with major potential but this needs to stop!”

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