The cryptocurrency market is under a lot of selling pressure at the moment, which is having an effect on important digital assets. The price of XRP has dropped to its lowest level since March 2023. This is one of the things that has changed.
The society became more concerned about the price going down. Ripple’s Chief Technology Officer, David Schwartz, spoke out about the situation. He focused on how useful XRP is instead of how it could be used as an investment.
Ripple CTO Defends XRP
Schwartz said that people can buy enough XRP at the current price to make payments worth the same amount of funds in XRP. This proves that Ripple token can be used to send funds swiftly and inexpensively across borders.
However, some people in the community disagreed with Schwartz’s words and said he was trying to change the story by changing what he had said before. Because he said in the past that the price of XRP would not stay low, Schwartz has been accused of lying and trolling.
Schwartz responded that what he had just said was in line with what he had already said. This made his point of view more clear. He was still more interested in how XRP can be used in payment systems than in how much it is worth as an investment.
Schwartz’s words are meant to stop gossip and make it clear what he thinks the main point of XRP is. There seems to be a long-term plan to promote XRP as a fast and inexpensive way to send funds to other countries, even though the market is having problems right now.
