Sign Up on MEXCWhy 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.
- Cathie Wood’s Ark Invest Backs Nasdaq-Listed Solmate To Launch $300M Solana Treasury
- First U.S. Spot Dogecoin and XRP ETFs Launch as REX-Osprey Debuts DOJE and XRPR
- Analyst Calls $6 XRP Target for November Amid Ripple CEO’s White House Stockpile Hint
- Ethereum Faces Selloff Risks As Whales’ Unrealized Profit Hits 2021 Highs
- Expert Predicts 138% Shiba Inu Rally as SHIB Futures Listing Opens Spot ETF Path
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
