In response to concerns regarding XRP\u2019s sluggish price performance, Ripple\u2019s Chief Technology Officer David Schwartz, took to social media platform X to shed light on the matter. The discussion ensued after a user questioned the notion of \u201cgradual appreciation\u201d in relation to XRP\u2019s price behavior compared to other crypto projects.<\/p>\n
Ripple CTO Explains Gradual Appreciation Concept<\/h2>\n
Recently, an XRP enthusiast took to X and asked Ripple CTO Schwartz to elaborate on what exactly he means by \u201cgradual appreciation.\u201d The user gave reasoning for his query and stated, \u201cBecause XRP doesn\u2019t look at all like something that gradually appreciates in price if you compare it to projects that are actually much more favored for speculation.\u201d<\/p>\n
Schwartz provided insights by comparing XRP to Bitcoin\u2019s (BTC) long-term price trajectory. He stated, \u201cHere is a chart of bitcoin over the past 12 years on a log scale. The long-term behavior is that of gradual appreciation.\u201d Furthermore, he emphasized the importance of evaluating alternative investment strategies such as Automated Market Makers (AMMs) or staking, as options for achieving long-term growth.<\/p>\n
Whilst, Bill Morgan, an XRP advocate, took a jibe at investors who rake in profits from volatility, colloquially referred to as \u201cmoon boys.\u201d Schwartz responded by acknowledging the differing perspectives. He noted, \u201cIf you view cryptos like lottery tickets\u2026you should just hold them and not look for ways to take on more risk.\u201d In addition, he clarified that he does not view cryptocurrencies in that manner.<\/p>\n
The exchange highlighted the diverging viewpoints within the crypto community regarding investment strategies and expectations. While some advocate for speculative holding, others like Schwartz, advocate for a more measured and risk-conscious approach. Moreover, the Ripple CTO indirectly advised long-term holdings for cryptocurrencies like XRP to earn returns.<\/p>\n
Also Read:\u00a0XRP Whales Move 81 Mln Coins Amid New ATH Hype, What\u2019s Happening?<\/a><\/strong><\/p>\n The XRP price performance has been a topic of debate within the crypto community, with some expressing frustration over its apparent lack of significant upward movement. On the contrary, the XRP price registered a rebound. At press time, the XRP price was up by 0.83% to $0.6275 on Monday, March 11.<\/p>\n The Ripple-backed crypto boasted a market cap of $34.39 billion. Moreover, the 24-hour trade volume spiked by 42.49% to $2.11 billion. However, XRP\u2019s 1-month price gain stands at over 17%, which is comparatively lesser than other digital assets.<\/p>\n Bitcoin, the largest crypto, soared over 49% in the last 30 days and is approaching a new all-time high at $72,000. In addition, Ethereum (ETH) surged past $4,000, rallying nearly 61% in a month. Moreover, Solana (SOL) and Cardano (ADA) also registered a parabolic surge with about 37% gains each. Hence, XRP was naturally overshadowed, giving rise to the above-mentioned concerns.<\/p>\n Also Read:\u00a0XRP Lawyer John Deaton & Elizabeth Warren To Face New Pro-Crypto Senate Rival<\/a><\/strong><\/p>\n \u2713 Share:<\/p>\nXRP Price Action<\/h2>\n
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