David Schwartz, Ripple's CTO, Has Dismissed Claims That New XRP Tokens Can Be Created on the XRP Ledger

input: 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.

Claims that new XRP tokens can be created on the XRP Ledger have been dismissed by David Schwartz, Ripple's chief technology officer. 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 can 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.

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.