Ripple token’s native token has flashed green candlesticks in the price chart today. XRP It seems that the trend has shifted downward.
As per the latest update, XRP is currently trading at $0.6222 showing a 3.5% drop in only one day.
Ripple CTO’s influence on the unexpected drop in prices is apparent David Schwartz’‘s latest post on X, which was formerly Twitter.
“It’s nearly impossible to avoid selling if you want to hold.”
Schwartz’s contradicting viewpoints
It was a reminder of his previous emphasis that it is important to address tax liabilities relating to crypto assets. The document also outlined how difficult it is for the executives and the company to not sell XRP.
This contradicts his earlier statementThe word translates as:
“If Ripple gave me a 1,000,000 XRP bonus tomorrow, I would have no choice but to sell about half of it very quickly because my marginal tax rate (Fed + CA) for earned income is around 50%. Distribution is very hard.”
The light shed on this financial Ripple’s compensation to individuals in possession of XRP is a burdensome payment.
Dev Null Productions has ceased production
These exchanges all coincided Dev Null Productions … citing their dissatisfaction at Ripple’s decisions.
They have lost faith in Ripple after six years, despite their significant contribution, and especially because of the decision they made to sell XRP on behalf of retail investors. This report said:
“XRP is always lagging behind in terms of performance in the markets, and as the old Wall Street adage goes, don’t marry a position.”
Dev Null Productions criticized XRPL Foundation as well for placing personal agendas above community concerns.
They announced that they would terminate XRP projects such as Ledger City, and urged the community to take action against the corrupt leadership at Ripple Foundation and the XRPL Foundation.
Why did XRP say ‘NO’ to AMM?
Also, when asked about AMM (Automated Market Maker’s) integration into XRP Schwartz’s responsUsing XRP for AMM pools is a complex process.
Ripple may be taxed if they sell half their XRP by combining it with other assets in such pools.
Ripple’s participation in AMM pools is a complex issue that could lead to tax implications.
“This article is not financial advice.”
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Source: ambcrypto.com