Ripple CTO Intrigues XRP Army With Mind-Twisting Tweet
Ripple CTO David Schwartz continues to puzzle the Ripple community on X platform with a cryptic tweet that sparked speculation about the future of XRP price.
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Posted 8/24/2023, 3:07:00 PM
u.today
Relevant topic timeline:
Ripple CTO David Schwartz clarifies that while XRP Ledger began as a copy of Bitcoin in 2011, it has since evolved and relinquished some of its similarities, addressing flaws and establishing a more sustainable digital asset for payments.
Despite a recent crash, Ripple's largest token holders are accumulating massive amounts of XRP in anticipation of a potential bull market and the outcome of the SEC case.
XRP rallied on Sunday, avoiding dropping below $0.50 for the second consecutive day, while Ripple has until September 1 to respond to the SEC filing and the SEC has until September 8 to address any response. Capitol Hill is being watched for potential developments in US crypto regulation.
Dig Perspectives, a prominent figure in the XRP community, is more excited about XRP becoming a world reserve currency than achieving a potential $25 price surge. This challenges the conventional discourse surrounding cryptocurrencies, and while some experts are skeptical, Ripple CTO David Schwartz is more optimistic about digital assets challenging the dominance of the US Dollar as the world reserve currency.
Crypto analysts predict that the price of XRP may reach $0.60 after the SEC's change in strategy regarding Ripple Labs, with data suggesting that large XRP investors are preparing for a potential price rise.
Top executives from Ripple, Brad Garlinghouse and Chris Larsen, have provided their availability for the upcoming trial in 2024 in the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC), as the SEC appeals the court's ruling that XRP is not a security.
High-ranking Ripple executive, David Schwartz, created buzz in the XRP community with a tweet about the token, prompting a humorous reaction from users.
Ripple's recent legal victory against the SEC has brought much-needed regulatory clarity to the cryptocurrency industry, but XRP's price has since declined due to bearish market sentiment and short-term holders offloading their holdings.
Ripple CTO David Schwartz's cryptic tweet about a number that takes 11 steps to reach 1 sparks speculation in the XRP community, although it is unrelated to the cryptocurrency.
XRP community figure anticipates a yearly surge for XRP, drawing parallels to Bitcoin's price movements and expecting a breakout in 2024 or 2025.
### Summary
Ripple (XRP) has seen a significant rise in price due to a bullish trend in the cryptocurrency market, positive news about partnerships, and its growing popularity in South Korea. Financial institutions are adopting Ripple's technology for cross-border payments, validating the utility of XRP. However, caution is advised as the market remains highly volatile, and XRP's future performance is uncertain.
Ripple plans to continue fighting the ongoing lawsuit with the SEC over allegations of breaching securities laws in the sale of its cryptocurrency XRP, with the company asserting that XRP is not a security and seeking to expand its business globally.
Ripple (XRP) price consolidation may be followed by an imminent rally fueled by rumors of Blackrock's integration of XRP in its crypto expansion strategy, as indicated by on-chain data and trading sentiment.
Ripple CEO Brad Garlinghouse believes that XRP could become the next Bitcoin if it successfully addresses a multi-trillion-dollar problem and leverages its competitive edge in the regulated traditional finance sector.
The XRP price outlook is bullish as the asset tests the supply zone at $0.5174, with the possibility of a settlement in the SEC vs. Ripple lawsuit and Ripple CEO Brad Garlinghouse's criticism of the SEC and Chair Gary Gensler contributing to the altcoin's recovery.