Ripple has long gotten flak for controlling the majority of “decentralized” cryptocurrency XRP. That’s what makes the reported mission of a small, new cryptocurrency company called Valor so intriguing.
On Tuesday, Axios reported that “something called Valor” is planning a hostile takeover of XRP, which could potentially decentralize the majority Ripple-owned coin. At this point, it’s hard to say whether Valor could succeed somewhere down the line, but it’s not looking especially likely, as the task would take a lot of money that Valor doesn’t seem to have. Plus, as Axios business editor Dan Primack points out, the information was leaked to the publication, which means those responsible for the leak might have ulterior motives. Those motives could be driving down the price of XRP to buy and later sell, without any intention of buying into Valor.