David Vance

Impact

<p>The post <a href="https://coinpedia.org/news/david-schwartz-spills-the-beans-ripples-impact-on-xrp-price/">Ripple CTO David Schwartz Addresses XRP Price Controversies: What You Need to Know</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/news/ripples-cto-david-schwartz-shares-his-optimistic-outlook-for-crypto-in-2024/">David Schwartz</a>, Ripple’s Chief Technology Officer (CTO), took to X (previously Twitter) to interact with the XRP community, diving into the intricacies of XRP’s price movements. This engaging exchange shed light on Ripple’s sales strategies, the impact on XRP, and its connection to broader market trends.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">We were originally hoping to get our holdings way down in just a few years mostly using giveaways. That strategy just didn't work. We don't want to be holding lots of XRP for decades, but it's not clear what other options we have.<br><br>FWIW, I believe the primary drivers of XRP's…</p>— David "JoelKatz" Schwartz (@JoelKatz) <a href="https://twitter.com/JoelKatz/status/1759523063174234373?ref_src=twsrc%5Etfw">February 19, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Read more about what he had to uncover. </p> 
<h2 class="wp-block-heading" id="h-ripple-s-sales-strategies">Ripple’s Sales Strategies</h2> 
<p>Concerns regarding Ripple’s continuous sales impacting <a href="https://coinpedia.org/price-analysis/ripple-price-prediction-will-xrp-price-hit-2-in-2024/">XRP’s price</a> took center stage, fueled by recent revelations about past programmatic sales. Schwartz allayed fears, clarifying that programmatic sales ceased in 2020, with <a href="https://coinpedia.org/news/ripple-vs-sec-lawsuit-climax-analyzing-when-judge-torres-will-conclude-the-legal-saga/">Ripple</a> opting for sales through ODL (Ripple Payments).</p> 
<p>After these revelations, an anonymous crypto researcher, Darkhorse, urged Ripple to adjust its sales strategies or temporarily halt sales to observe the price reaction. Schwartz emphasized the need for transparency in Ripple’s actions, asserting the unethical nature of deliberate price manipulation.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">I agree with some of your points. XRP liquidity hasn't met expectations. Ripple established the escrow for more than storage listed below in the objectives of creating the Escrow —it aimed to boost volume and price appreciation. However, volume has decreased, with DEX usage down… <a href="https://t.co/3FX1hjlQDX">pic.twitter.com/3FX1hjlQDX</a></p>— ĐΛRKHØRSΞ
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@DarkhorseDNME4) <a href="https://twitter.com/DarkhorseDNME4/status/1759526633726255269?ref_src=twsrc%5Etfw">February 19, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Read More: <a href="https://coinpedia.org/news/ripple-ctos-secret-plan-to-burn-40-7-billion-xrp-shocked-crypto-community/">Ripple News: 40.7 Billion XRP Burn Revealed for “Blackholing”; Community Shocked</a></p> 
<h2 class="wp-block-heading" id="h-ripple-s-evolving-plan"><strong>Ripple’s Evolving Plan</strong></h2> 
<p>Ripple’s initial plan of distributing XRP through giveaways was revised due to inefficacy. Schwartz revealed that the company released 1 billion XRP from escrow monthly but retained a significant portion for sales, aiming to gradually reduce its XRP holdings over time.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">We were originally hoping to get our holdings way down in just a few years mostly using giveaways. That strategy just didn't work. We don't want to be holding lots of XRP for decades, but it's not clear what other options we have.<br><br>FWIW, I believe the primary drivers of XRP's…</p>— David "JoelKatz" Schwartz (@JoelKatz) <a href="https://twitter.com/JoelKatz/status/1759523063174234373?ref_src=twsrc%5Etfw">February 19, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Contrary to the belief that ecosystem developments dictate XRP’s price, Schwartz argued that broader market trends play a more substantial role. He <a href="https://twitter.com/JoelKatz/status/1759525247949349061">highlighted</a> the correlation between XRP and XLM prices, emphasizing similar movements despite different ecosystem developments.</p> 
<p>Schwartz discussed the potential worldwide adoption of the <a href="https://coinpedia.org/news/the-ripple-effect-understanding-xrps-position-in-the-stablecoin-debate/">XRPL</a>, foreseeing an increase in XRP burned per day alongside elevated transaction volumes. This, he explained, would create a simple supply and demand dynamic over the long term.</p> 
<p>This Might Interest You: <a href="https://coinpedia.org/news/crypto-influencer-share-a-realistic-outlook-of-what-might-happen-in-ripple-lawsuit/">What to Expect Next in the Ripple vs SEC Lawsuit? Expert Details 10-Year Timeline</a></p> 
<h2 class="wp-block-heading" id="h-fostering-transparency-and-understanding"><strong>Fostering Transparency and Understanding </strong></h2> 
<p>David Schwartz’s engagement with the XRP community not only addressed concerns about Ripple’s sales practices but also fostered transparency. The exchange provided clarity, attracting a larger user base and unraveling the complexities of XRP’s price dynamics. </p> 
<p>Ripple’s CTO is paving the way for a more informed and connected user community.</p>

Ripple CTO David Schwartz Addresses XRP Price Controversies: What You Need to Know

목차

CoinPedia News

2024년 2월 20일에 게재된 다른 기사

Worldcoin (WLD) surges as Bitcoin leads market surge

Warzone Players Plagued by Rampant Cheating, Raising Concerns Over Anti-Cheat Efficacy

AI Stocks to Potentially Fuel Market Momentum, Defying Inflation Worries

Solana; Chainlink Show Overheating Open Interest: Data

UK targets new laws for stablecoins and crypto staking within six months

Cryptocurrency Market Eyes Growth as Bitcoin Recovers and Altcoins Rally

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!