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Ripple CTO Shuts Down Speculation About XRP Community Price
Gamza Khanzadaev
Ripple CTO David Schwartz Addresses XRP Price Speculation Amid Fear, Uncertainty, and Doubt
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The cryptocurrency market is experiencing significant selling pressure these days. This turbulence has affected major cryptocurrencies, including XRP, which has fallen to its lowest price since March 2023.
In response to growing community concerns about the price crash, Ripple’s CTO, David Schwartzaddressed the issue by emphasizing XRP’s utility rather than its investment potential.
Schwartz explained that the current price allows users to acquire enough XRP to facilitate a payment exactly for the value of the cryptocurrency. He noted that this underscores XRP’s primary function as a medium of exchange, facilitating fast and convenient cross-border transactions, despite the market crash.
Some members of the community, however, have expressed dissatisfaction with such comments, accusing the Ripple CTO of having deviated from previous statements and manipulated the narrative. Critics have pointed to past remarks that suggested XRP Price he did not want to remain silent and accused Schwartz of trolling and dishonesty.
Is XRP Really an Investment Tool?
Schwartz later clarified his position, insisting that his recent comments were consistent with his previous statements. He reiterated that his focus has always been on XRP’s functional utility in payment systems rather than its price as an investment asset.
Schwartz’s response was aimed at quieting speculation and reaffirming his position on the fundamental purpose of Exchange rate risk.
Despite current market challenges, the emphasis on XRP’s utility highlights what could be a long-term strategy to promote it as a practical tool for efficient and convenient international payments.
However, the question arises: is XRP really an investment tool?
About the author
Gamza Khanzadaev
Financial analyst, trader and cryptocurrency enthusiast.
Gamza graduated with a degree in finance and credit with a focus on securities and financial derivatives. He then completed a master’s degree in banking and asset management.
He wants to contribute to the discussion of economic and fintech topics, as well as inform more people about cryptocurrencies and blockchain.