Ripple's Chief Technology Officer (CTO), David Schwartz, has recently responded to rumors that the company is considering abandoning its association with the XRP token ¹ ² ³ ⁴. These rumors have been circulating due to a misunderstanding of a post by Schwartz, which was actually a fictional pitch for a movie ¹ ³ ⁴.

Key Points:

- Schwartz clarified that Ripple is not abandoning XRP and that the post was misunderstood.

- The rumors began when an X user posted Schwartz’s cover photo, which suggested that Ripple was abandoning XRP due to a “web of corruption” in the financial world.

- Schwartz stated that the circumstances described in the post have not happened, and Ripple is not facing any challenges that would lead to abandoning XRP.

- Ripple's President, Monica Long, also reaffirmed that XRP is still part of the company's long-term plans, and it will continue to be used in their operations.

- XRP is at the center of Ripple's operations, and the company uses it to provide cross-border payment services.

- Ripple is the largest XRP holder, holding almost 50% of the crypto token's supply.

The rumor of Ripple abandoning XRP had raised concerns among the XRP community, as XRP is a crucial part of Ripple's operations, and the company holds a significant amount of XRP tokens ¹ ³. However, Schwartz's swift response has helped alleviate these concerns, and the company has reaffirmed its commitment to XRP ¹ ³ ⁴.