David Schwartz, Ripple’s chief technology officer, has
dismissed claims that new XRP tokens can be created on the XRP Ledger. His
statement comes after renewed debate over the token supply.
Meanwhile, the XRPUSD H1 chart reveals that the price is
currently hovering around a key support level. A potential strong bullish
reversal pattern could generate momentum and drive the price higher.
XRP Ledger Blocks New Token Creation
The discussion resurfaced when Pierre Rochard, a Bitcoin
advocate, suggested that Ripple could mint additional XRP beyond the fixed 100
billion supply. This led to a heated exchange among community members.
Schwartz responded by stating that no code within the XRP
Ledger allows new XRP creation. He explained that the system enforces strict
rules to prevent such an action. The ledger’s invariant checker continuously
monitors transactions and blocks any attempt to generate new tokens.
Ripple can add one any time https://t.co/2xz2g1MSyQ
— Pierre Rochard (@BitcoinPierre) March 4, 2025
An XRPL dUNL validator, known as Vet, supported Schwartz’s
position. He stated that the network’s developers designed the system to
prevent any increase in the original supply created in 2012. He also emphasized
that no exploit could bypass the ledger’s safeguards.
Schwartz Dismisses Concerns over XRP Circulation
Schwartz also addressed concerns about XRP circulation. Some
community members speculated that past changes to the ledger’s structure could
have left certain tokens unaccounted for. However, he stated that there was no
evidence of more than 100 billion XRP existing in the system.
Mayukha Vadari, a senior software engineer at RippleX, added
that the ledger’s design ensures that all account balances are verified. Any
attempt to exceed the recorded amount would be rejected by validators.
XRPUSD Consolidates at Key Support Level
The XRPUSD H1 chart indicates that the price has bounced
several times at 2.10500. As of now, the price remains in consolidation around
this level. A bullish reversal pattern, followed by a breach at 2.21450, could
attract intraday buyers and drive the price higher. The H1 chart also provides
sufficient space for price movement, potentially leading to strong bullish
momentum in the event of a breakout.
Conversely, if the price breaks below 2.10500, sellers may
look to enter short positions upon confirmation of a breakout followed by a
bearish reversal signal.
This article was written by Tareq Sikder at www.financemagnates.com.
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