Ripple CTO throws more Light On Why XRP’s Price Is Still In Cents.
The latest altcoin rally pumped the price of several coins, while that of XRP price went a little above 20 cents. Crypto community has engaged the CTO of Ripples in a conversation about the price of the coin.
One of the popular cryptocurrencies, XRP’S Price has continued to Hover At 20 Cents till now and it’s position in the crypto world was recently taken over by Tether, the largest stablecoin, as the third-largest cryptocurrency in the whole world with regards to market capitalization.
Despite seeing a surge of 17.3 percent in the last seven days during the altcoin rally, XRP’s price remained under $0.20 for quite some time. The coin, actually has been on massive fluctuations since the beginning of the year.
David Schwartz the CTO of Ripple faced some questions about the low price of the altcoin when a member of the crypto community took to Twitter to question him.
While justifying XRP’s price movement, Schwartz pointed out that the price of cryptocurrencies mirrors the ** “wisdom of crowds and a fair assessment of the expected future.”**
However, this is Schwartz believe and his stance though he said a few number of people shared a similar view but despite the fact, this view may still be unacceptable
He further tweeted,
Notably, the price of the altcoin has been trading in cents for quite a long time now despite being engaged in several partnerships across the globe and has been trying to utilize XRP in all its ventures as well. Despite these efforts to hit it off, Ripple had remained in cents.
Could 19 cents be the right value for XRP?, this was another question presented by another tweeter user to Schwartz Replying to this, Schwartz said that even though he doesn’t want to think its the correct value, he believes that the fact that wealthy people could fuel the price was inevitable to him. He further added,
“I’ve expressed this view to many other people in the industry (often about other tokens or just prices generally) and they say I’m crazy and that whales can manipulate the price as they please. I’d like to believe that, but the truth is that I just don’t.”
Even though the price of XRP is lower than many other prominent cryptocurrencies in the world, the altcoin over the past few days still witnessed a significant surge. Over the past 24-hours the coin was trading at $0.2022 with a 1.5 percent surge.
However, the CTO of Ripple also had this believe that the success of crypto assets was inevitable, explaining that things that come across as revolutionary fails.
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