David Schwartz: Divulging Ripple’s Plans and Price Movements
David Schwartz, Ripple’s Chief Technology Officer (CTO), interacted with the XRP community on X, sharing insights into Ripple’s sales strategies, XRP’s price movements, and its broader market impact.
Ripple’s Revised Distribution Strategy
Ripple’s initial plan to distribute XRP through giveaways was scrapped, and the company now releases 1 billion XRP from escrow monthly, retaining a significant portion for sales with the aim of gradually reducing its XRP holdings over time.
XRP’s Price Correlation & Market Trends
Schwartz argued that broader market trends exert a more significant influence on XRP’s price compared to ecosystem developments. He discussed the correlation between XRP and XLM prices, highlighting similar movements despite different ecosystem developments.
Potential Worldwide Adoption of the XRPL
Schwartz discussed the potential worldwide adoption of the XRPL, foreseeing an increase in XRP burned per day alongside elevated transaction volumes, creating a simple supply and demand dynamic over the long term.
Promoting Transparency and Understanding
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.
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