Prominent $XRP lawyer was among those who expressed their doubts about the fake report
Firstly, a buyback signals a vote of confidence in the currency's value from the company itself. It indicates that Ripple Labs believes that XRP is currently undervalued and will increase in value in the future. This could bolster investor confidence, potentially leading to increased demand and upward pressure on the price.
Secondly, buybacks typically reduce the number of tokens in circulation. With fewer tokens available on the market, the value of each token could increase, assuming demand remains the same or grows. This is due to the basic economic principle of supply and demand: When supply decreases while demand stays the same or increases, the price typically goes up.
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