A section of the Ripple [XRP] community has long hoped for approval for the token’s buyback proposal since 2021. But all that desire may now be a pipe dream as the project’s Chief Technology Officer (CTO) put a nail to the coffin.

When asked about his comments on the matter, CTO David Schwartz said it was ridiculous, and directly called it a “scam”.

This response comes after Ripple’s legal counsel had recently opined that the suggestion was impossible. Those who supported the proposal argued that XRP could become the world’s reserve currency.

And, a buyback XRP rate based on the supply potential held by governments could help a retail reclaim. 

While the legal opinion may have reflected some chance of approval, the public rebuttal from the development team may now mean there is no chance.