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David Schwartz, Ripple’s Chief Technology Officer, has sparked discussions by suggesting that seeing XRP at higher prices, like $1 million, is more practical for payments. He shared his views on Quora, responding to questions about the token’s practicality in payment setups. Ripple, as the largest holder of XRP, leverages the cryptocurrency as a bridge currency […]
In an exchange on X, Ripple‘s Chief Technology Officer (CTO), David Schwartz, also known as JoelKatz, responded to queries about the strikingly similar price movements of XRP and Stellar (XLM). This discussion has brought to light not just the intertwined market dynamics of these two major cryptocurrencies but also the complex factors influencing their valuation. Curious Correlation Between XRP And XLM Schwartz candidly addressed a post by Good Morning Crypto, who highlighted a long-term price chart comparison between XRP and XLM since 2014, questioning the “unnatural price symmetry” and the potential for both to “breakout together during this bull run.” Schwartz replied, “I genuinely don’t know. The thing that I think is most likely is that both prices are driven primarily by factors completely outside their ecosystems.” Related Reading: Ready For Liftoff: XRP Price Primed To Skyrocket Before November However, Schwartz also acknowledged conflicting evidence to his theory. When pressed for specifics regarding the unusual correlation, he pointed to the significant event of Stellar burning half of their token supply, which surprisingly did not impact their price or disrupt the price correlation pattern with XRP. “The one bit that’s the most convincing to me is that Stellar burned half their supply and there wasn’t so much as a blip on their price chart or any real deviation from XRP’s price correlation,” Schwartz explained. This dialogue underscores a broader narrative within the cryptocurrency sector, where XRP and XLM share not only a founder in Jed McCaleb but also similar technological frameworks aimed at streamlining cross-border payments. Despite these overlaps, the absence of a price impact post-Stellars token burn has been a particularly puzzling aspect for analysts and the crypto community alike. Both XRP and XLM have historically mirrored each other’s price movements, potentially due to overlapping use cases, investor behaviors, and market perceptions. As financial tools facilitating quick, cross-border transactions with minimal fees, both have attracted similar investor bases looking for alternatives to traditional banking hurdles. Related Reading: XRP Price Consolidates, Gearing Up for Its Next Major Breakout Market sentiment plays a significant role. News impacting one of the cryptos can quickly spill over to the other due to their perceived substitutability. Additionally, regulatory shifts in one can inadvertently sway investor sentiment towards the other. Popular pro-XRP lawyer Bill Morgan commented on this, I dont know what causes it but it shows how useless Ripple burning the escrow would be. Stellar burned XLM and Ripple did not burn XRP and it had no impact on the symmetry. Same for the lawsuit. No impact overall. Stellar was not sued. Factors external to either blockchain and not specific to either Ripple or Stellar must be the explanation. The ongoing debate includes speculation about whether XRP and XLM will jointly make significant gains in an anticipated bull run. Historical price patterns suggest a high level of correlation, but as Schwartz indicates, external factors such as global market conditions and macroeconomic factors are likely at play. At press time, XRP price stood at $0.5282. Featured image created with DALL·E, chart from TradingView.com
Ripple Chief Technology Officer (CTO) David Schwartz identifies Chris Larsen as the most important person in the companys history. The…
The post David Schwartz Identifies Most Prominent Figure in Ripple first appeared on The Crypto Basic.
Ripple CEO Brad Garlinghouse stirs speculations regarding David Schwartz being the real identity behind pseudonymous Bitcoin creator Satoshi Nakamoto. During…
The post Is David Schwartz, Satoshi Nakamoto? Ripple CEO Fuels Debate With New Comment first appeared on The Crypto Basic.
Ripples CTO, David Schwartz, revealed how he acquired 40,000 Ethereum tokens during the public initial coin offering (ICO). The revelation…
The post Ripple CTO Explains How He Bought 40,000 Ethereum with $12,400 first appeared on The Crypto Basic.
The dispute between Cardano founder Charles Hoskinson and Ripple CTO David Schwartz over the controversial ETH Gate has heated up,…
The post Ripple CTO Bashes Cardano Founders Reply on ETH Gate, Calls It Ridiculous first appeared on The Crypto Basic.
Over the weekend, the conversation about the ETH Gate theories started again after the news of the Consensys lawsuit against the US Securities and Exchange Commission (SEC). The discussion intensified following the Ripple CTO David Schwartz and Cardano Founder Charles Hoskinson’s debate on X. Related Reading: Ethereum Price Reverse Gains, Can ETH Bulls Save The Day? Is There A Double Standard For Ethereum? On Thursday, crypto firm Consensys sued the US SEC, accusing the regulator of unlawful seizure of authority over Ethereum. Following the news, an online conversation sparked regarding the SECs alleged favoring of the second-largest cryptocurrency by market capitalization. X users commented on crypto exchanges double standard. Many pointed out platforms like Binance, Coinbase, Crypto.com, and Bitstamp delisted XRP after the SECs crackdown on Ripple. Hey @coinbase @cryptocom @BinanceUS @Bitstamp @BittrexExchange when delist Ethereum? Are you still trying to comply with regulatory concerns or no??? pic.twitter.com/QiWG9qEUbZ — Digital Asset Investor (@digitalassetbuy) April 26, 2024 Moreover, members of the crypto community also asked for ETH’s delisting. One user stated that if the crypto asset doesnt get delisted, we know #ETHGate is real. The theories about the SEC attacking Ripple and XRP in favor of Ethereum are part of an ongoing saga that has raised concerns and speculation over the agencys regulatory inconsistency. Last year, lawyer and crypto expert Jeremy Hogan weighed in on the publication of Hinmans emails and drafts from his 2018 speech. Hogan alleged that the former SECs Division of Corporation Finance director was likely paid by someone related to the Ethereum Foundation to give a speech giving ETH a free pass. Ripple CTO Questions Hoskinsons ETH Gate Stand Charles Hoskinson stated that an apology from the XRP army and Ripple executives was needed before a project collaboration. Hoskinson alleged during a recent X Space meeting that XRPs community has attacked him daily since 2022. Following the session, members of the XRP army cursed him out and declared he was wrong. Hoskinson replied, seemingly trying to prove his point, alleging the hate It’s never-ending and completely devoid of reason. Jack, a prominent figure in the XRP community, argued that platforming those who attacked Hoskinson would not help the situation. Cardanos founder then corrected someone, claiming he misspoke and mischaracterized the communitys allegations. Hoskinson clarified he didnt misspeak, as people believe members of the Ethereum community bribed the SEC to take out XRP. According to him, this narrative has reignited several times with no evidence of it. Ripples CTO joined the discussion, questioning Hoskinson over his claims of lack of evidence. Schwartz stated: So, was Hinman not intimately involved? Did he not have a financial interest in Ethereum? Did he recuse himself? Or is that not evidence for some reason? So, was Hinman not intimately involved? Did he not have a financial interest in Ethereum? Did he recuse himself? Or is that not evidence for some reason? — David "JoelKatz" Schwartz (@JoelKatz) April 28, 2024 To Hoskinson, Schwartz was inciting a mob by spreading false information. He also denied invalidating the ETH Gate arguments, claiming his grand conspiracy statements have always been related to the belief that somebody from Ethereum bribed the SEC to go after XRP. The back-and-forth between the two crypto gurus ended with Ripples CTO further doubling down on his questions. He asked whether Hoskinson didnt think any of his statements were evidence that Hinmans interests influenced and affected the litigation against Ripple, which received no reply. Related Reading: XRP Sees Over $12 Million Sell-Off: Whale Warning Or Buying Opportunity? XRP is trading at $0.50 in the 7-day chart. Source: XRPUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
In a recent development, David Schwartz, the Chief Technology Officer (CTO) at Ripple, has stepped forward to address concerns swirling within the XRP community. These concerns have been sparked by Ripple’s latest foray into stablecoin territory, raising questions about the future role of XRP within the company’s ecosystem. Ripple has been making waves in the […]
The Ripple CTO David Schwartz has recently debunked claims that Ripple would prefer to see the price of XRP low…
The post Ripple Preferring Low XRP Price for Payments is Senseless: Ripple CTO first appeared on The Crypto Basic.
David Schwartz’s remarks came in response to inquiries on the safety of PolySign investments through Linqto. David Schwartz, the CTO of Ripple, has offered valuable insights into the operational methods of Linqto, a fintech firm specializing in investment services. Specifically, Schwartz’s commentary sheds light on the approach that Linqto employs to facilitate investments in companies […]
The post Ripple CTO Describes How Linqto Facilitates Investments in PolySign first appeared on The Crypto Basic.
Judge Torres' ruling on Hinman's emails sparks speculation within the XRP community regarding potential SEC-Ripple settlement.
The Ripple CTO David Schwartz has revealed that it is near impossible to avoid selling XRP amid increased scrutiny of…
The post Ripple CTO Says Its Near Impossible to Avoid Selling XRP: Heres Why first appeared on The Crypto Basic.
The Ripple CTO recently responded to a researcher's claim that XRP is the "biggest financial scam" the world has ever seen over low DEX volume.A discussion has emerged within crypto circles after analyst Aylo criticized XRP, calling it the largest financial scam in history. His criticism centered on the claim that XRP had produced little value despite reaching a massive $140 billion market capitalization.Ripple CTO Responds to Low DEX Volume ClaimsAylo, who conducts research for blockchain resource Alpha Please, pointed to data suggesting that the XRP Ledger (XRPL) had only $44,000 in decentralized exchange (DEX) volume over a 24-hour period. Particularly, he shared a snapshot from DeFiLlama to support his argument, emphasizing that such a low volume was uncharacteristic for an asset with XRP's market size.He further noted that the XRPL's total value locked (TVL) stood at just $80.63 million, significantly lower than that of leading blockchain networks with established decentralized finance (DeFi) ecosystems. His comments triggered discussions about the actual utility of XRP and its network.Amid the discussion, Ripple's Chief Technology Officer, David Schwartz, responded to Aylo's assertion. He clarified that the specific data referenced likely only accounted for Automated Market Makers (AMMs) on the XRPL. https://twitter.com/JoelKatz/status/1903190104132526544Since AMMs represent just a fraction of the network's usage, he suggested that the quoted volume did not reflect the full scope of XRP's utility.For context, XRP integrated AMM functionality recently, specifically last March. Despite being a decade-old network, XRPL had only recently pivoted toward DeFi, incorporating NFTs, AMMs, and stablecoins. This relatively new adoption has resulted in a DeFi ecosystem that remains underdeveloped compared to competitors.dUNL Validator Counters with Higher Volume FiguresVet, a dUNL validator, dispelled Aylo's claim by presenting alternative volume figures. According to Vet, the actual 24-hour DEX volume on XRPL was around $9 million, not $44,000. https://twitter.com/Vet_X0/status/1903191542023524726Interestingly, he claimed that this lower volume compared to other blockchains presents an opportunity for market participants to leverage the XRPL's growing DeFi ecosystem, which has hosted over 6 million wallets with minimal competition.Responding directly to Schwartz, Vet stressed that DeFiLlama's data might not accurately reflect XRPL's full trading activity. He mentioned that he and Orchestra Finance had collaborated with DeFiLlama's team on integration efforts. Vet explained that the actual 24-hour trading volume, when combining the Central Limit Order Book (CLOB) and AMM figures, was approximately $9 million.Why is XRPL DEX Volume Low?While XRPL's $9 million DEX volume remains significantly lower than those of competitors, such as Ethereum ($1.44 billion), Solana ($1.087 billion), and Binance Smart Chain ($2.61 billion), this gap is largely due to XRPL's historical focus outside of DeFi. The network has only recently begun expanding into decentralized financial services, making it understandable that its on-chain trading activity lags behind other blockchains that have prioritized DeFi development for years.Further context highlights that DEX volume alone does not determine a blockchain's legitimacy. Bitcoin, for instance, has an enormous market cap exceeding $1 trillion, yet its DeFiLlama data shows a mere $238,740 in DEX volume. This suggests that using DEX trading figures as the sole measure of a blockchain's utility or legitimacy can be misleading.Aylo's argument also led to confusion, with certain individuals mistakenly assuming he was referring to XRP's total 24-hour trading volume rather than its DEX volume. In reality, CoinMarketCap data indicates that XRP's global trading volume stands at $3.14 billion within the same period, an appropriate figure for an asset of its size.
Charles Hoskinson has dismissed claims that Cardano is heavily centralized and controlled by a few entities. Critics recently argued that Cardano is under the control of the Cardano Foundation, Input Output Global (IOG), and Emurgo. Hoskinson stated that misinformation about Cardano will persist for years, despite efforts to correct it. Cardano Founder Rejects Decentralization Criticism […]
Ripple Chief Technology Officer David Schwartz stated that the company could offer an XRP-only system if it chose to. However, he emphasized that such a decision would limit Ripples ability to attract a broad customer base. The company continues to prioritize solutions that maximize network effects and customer experience. XRP-Only System Would Limit Growth Schwartz […]
Attorney Deaton and Ripple CTO David Schwartz do not think a settlement will stop the public from accessing Hinman’s documents. Judge Analisa Torres’ decision on Hinman’s emails has prompted discussions and speculations within the XRP community. Recall that on May 16, Judge Analisa Torres denied the SEC’s motion to seal the emails and drafts relating […]
The post Deaton, Ripple CTO Agree Hinman Emails Are “Coming Out” Even If SEC Settles with Ripple first appeared on The Crypto Basic.
The Federal Reserve Bank of Atlanta recently released a report which categorized “Ripple” as a permissioned blockchain, eliciting reactions from Ripple’s CTO. David Schwartz, the Chief Technology Officer at Ripple, has reacted to a recent report from The Federal Reserve Bank of Atlanta, which categorized “Ripple” as a permissioned and private blockchain. The report contrasted […]
The post Ripple CTO Reacts as Atlanta Fed Says “Ripple” is Permissioned While Ethereum is Not first appeared on The Crypto Basic.
David Schwartz says the SEC cannot file an immediate appeal challenging Ripple’s victory because there are still unresolved issues between the parties. David Schwartz, CTO at Ripple, has recently commented on the heated debate regarding the SEC’s next line of action in the Ripple case. SEC May Consider 4 Options As reported yesterday, prominent legal expert […]
The post Ripple CTO Says SEC Can’t File “Immediate Appeal” Against Ripple first appeared on The Crypto Basic.
Ripple CTO and prominent figures in the XRP community have argued against the report of a 10 billion XRP buyback, questioning the source’s credibility. In response to recent claims of Ripple planning a massive 10 billion XRP buyback, Ripple’s Chief Technology Officer (CTO), David Schwartz, has denied the report. Schwartz stated on Twitter that Ripple […]
The post Ripple CTO, Deaton Deny Claims of Ripple Buying Back 10 Billion XRP Worth $5B first appeared on The Crypto Basic.
Schwartz says it is a crime to impersonate a federal judge. Ripple CTO David Schwartz has reacted to a recent tweet by XRPP (XRP Productions), a satirical Twitter account focused on sharing humor about the sixth-largest cryptocurrency by market cap. It all started yesterday after XRPP took to Twitter to claim that Judge Analisa Torres […]
The post Ripple CTO Warns Top XRP Community Member Against Impersonating Judge Torres first appeared on The Crypto Basic.
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