Why XRP Price Is Not Rallying? Ripple CTO Clarifies

XRP News: XRP, Ripple’s native crypto price is on a constant decline due to long running US SEC lawsuit and fading investors’ interest in the digital asset market. However, David Schwartz, Ripple CTO cited reasons why the XRP price is not on a way to appreciation.

Ripple CTO cites Google

Ripple CTO gave out the example of Google back in 2000. He compared how people back then didn’t believe that a search engine would be the next big thing and will make billions of dollars ahead. Meanwhile, on convincing, some people who might have joined Google back then would have made millions by now. Read More XRP News Here

He mentioned that some search engines like Ask Jeeves, Altavista and Lycos were also at the right place at the right time but couldn’t make the most of it. Ripple CTO believes that crypto is at that stage where the market is still figuring out if it is going to be the next big thing.

This is why prices tend to move together as people become more or less accrued that digital assets will be the next big thing. However, with time the crypto market will mature and would figure out which digital asset will be successful.

XRP trading vol spikes 212%

XRP price has dropped by 91% from its all time high (ATH). However, the XRP price is up by 2% over the past 24 hours. It is trading at an average price of $0.345, at the press time. Its 24 hour trading volume is up by 212% to stand at $1.013 billion.

WhaleAlert reported that crypto whales have moved more than 210 million XRP in the last 24 hours. The single largest recorded transaction has been of moving 148.7 million XRP (approx worth $50.3 million).

However, another crypto whale moved 70 million XRP (approx worth $23.5 million) in multiple transactions to a crypto exchange, Bitstamp. Crypto whales have been on a XRP moving spree over the past few months.