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Chris Larsen, the Ripple Chairman, discloses the inspiration behind the companys name and the rebranding from the initial name OpenCoin.…
The post Chris Larsen Explains Why the Company Was Named Ripple first appeared on The Crypto Basic.
The correlation between XRP and XLM prices recently caught attention, with legal expert Bill Morgan and Ripple CTO leveraging it…
The post Legal Expert, Ripple CTO Confirm Burning Ripples XRP Escrow Would be Useless first appeared on The Crypto Basic.
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
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.
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
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.
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.
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 […]
In a recent Twitter exchange, Ripple CTO David Schwartz and Bitcoin analyst Tuur Demeester engaged in a discussion about the difference between Ethereum (ETH) and Microsoft (MSFT) stock. As the crypto industry continues to grow and evolve, discussions like this will play a critical role in shaping its future. The perspectives of industry leaders like […]
The chief technology officer of the massive Ripple Labs, who has recently been highly active on Twitter, not just on cryptocurrency subjects, issued a tweet that appears to be a congratulations to Elon Musk. The jury in the case brought by the SEC against Musk in 2018 as a result of his “420” Tesla tweet […]
David Schwartz, CTO of Ripple, reluctantly concurs with Senator Elizabeth Warren’s warning about cryptocurrency. In terms of regulating cryptocurrencies, he thinks the Massachusetts senator might actually be on to something. Warren worries that if there is no adequate oversight, cryptocurrency might end up bringing down the economy in recent op-ed published by The Wall Street […]
BitBoy vs. Atozy has several people including Ripple CTO talking about it. Ben Armstrong, the creator of Bitboy Crypto, declared that he is dropping his defamation case against fellow YouTube content creator Erling Mengshoel Jr., better known by his stage name Atozy. In response to the November 2021 video “This YouTuber exploits his following…,” Armstrong […]
Ripple has always been subjected to claims of manipulating the price of XRP and its natural growth by selling coins. As the cryptocurrency’s largest holder, Ripple has faced constant criticism about the amount of XRP it holds, with detractors arguing it gives them too much control and influence over the price. Particularly, there’s been some drama swirling around the altcoin lately and claims that Ripple has been manipulating the market and systematically dumping its large holdings. This has come in light of a large transfer of 60 million XRP tokens from Ripple to an unknown wallet address. Ripple Accused Of Dumping XRP And Manipulating Market Whale transaction tracker Whale Alerts recently posted on social media a transfer of 60 million XRP worth $34 million from a Ripple-controlled wallet address into a private address. A further look shows that the private recipient wallet currently holds over 138 million XRP worth $75.5 million, with this same address receiving 80 million XRP from Ripple on February 11. Related Reading: Is Altcoin Season Upon Us? Heres What Bitcoins Performance Shows 60,000,000 #XRP (34,088,291 USD) transferred from #Ripple to unknown wallethttps://t.co/zfHG8o0Bbo Whale Alert (@whale_alert) February 20, 2024 At the time of writing, Ripple controls about 6% of the current circulating supply. Therefore, it is only natural that large transactions like this from Ripple would generate waves in the market and lead to speculations. Consequently, the large transfers have reignited claims of Ripple selling its holdings amidst ongoing consolidation in the price of XRP. In addition, debates regarding XRP’s programmatic sales have resurfaced, as history shows this isn’t new to Ripple. According to details shared by a social media user, Jim_Knox, Ripple allegedly delivered XRP to three market makers in 2017 for the purpose of market sales, which resulted in a price suppression of the cryptocurrency during that particular period. Furthermore, recent accusations have taken root of Ripple using what it called the 4t and 6t bots to execute programmatic sales to exchanges. Ripple CTO Addresses Concerns Ripple CTO David Schwartz took to a social media thread to address the rumors of price manipulation. An XRP community member had shared a meme suggesting that Ripple’s 4t and 6t bots have always prevented the price of XRP from increasing, keeping it at the $0.50 level. Related Reading: Bitcoin Holds Above $50,000 Despite Nasty Drop, Crypto Expert Says Local Top Not In However, Schwartz pointed out that Ripple has discontinued the programmatic sales of XRP, with the company only selling its holdings through ODL transactions. The ODL transaction method is Ripple’s unique payment solution that offers instantaneous cross-border transactions. On the other hand, concerns regarding the recent large transactions from Ripple to unknown wallets are yet to be addressed, and it all remains speculative at this point. XRP is trading at $0.5463 at the time of writing, down by 0.50% in the past 24 hours but still maintaining a meager 2% gain in a 30-day timeframe. Recent transaction alerts from Whale Alerts have shown large amounts of XRP leaving private wallets to crypto exchanges, hinting at potential selloffs. Token price stalls at $0.54 | Source: XRPUSD on Tradingview.com Featured image from U.Today, chart from Tradingview.com
The Ripple CTO has sounded an alarm for XRP users about a surge in phishing scams. Criminals are using fake emails and urgent requests to steal sensitive crypto details. Learn how to protect your assets and recognize potential threats. Ripple CTO Warns XRP Community of Coinbase scam The Ripple CTO, David Schwartz issued a warning […]
In a recent legal ruling, Ripple finds itself at the center of a heated debate as a federal judge’s decision in TerraForm Labs’ case challenges the distinction made by Judge Torres regarding Ripple’s XRP sales. Judge Torres had previously categorized Ripple’s sales to institutional investors as securities while considering those sold through digital exchanges as […]
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