David Schwartz Wants XRP Prices to Rise: Reaction from the Community

Bittime - On September 21, 2024, David Schwartz, Ripple's Chief Technology Officer (CTO), expressed his hope for the price of XRP to increase. This response came after a user claimed that the price of XRP was being suppressed. 

Schwartz confirmed that he owns XRP and stated, “If there was a way to make the price of XRP go up, I would definitely do it.”

David Schwartz Reacts To XRP Price

In his response, Schwartz explained that lower prices for XRP could negatively impact usage in payments. He used a Bitcoin (BTC) analogy, explaining that when BTC was at $100, it would be difficult to use it for large transactions like buying a house. 

However, with BTC prices now higher, the situation has become more realistic.

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“Lower prices for XRP make paying with XRP more expensive,” added Schwartz. He emphasized that paying one XRP is rare in practice. 

In contrast, a more common situation is sending a sum of money, such as $50, to someone in another country, highlighting XRP's usefulness in cross-border payments.

Hopes for Higher XRP Valuation

Schwartz has long pushed for a higher valuation for XRP. In a recent discussion on the X platform, he revealed that if there was anything that could be done to increase the price of XRP, he would do it. His statement referred to an old tweet in which he stated that XRP should not be considered "cheap."

“If XRP costs $1, they need one million XRP, which is $1 million. If XRP costs a million dollars, they only need one XRP, which again would cost $1 million,” he said.

Community Response To XRP

Ripple's crypto community's reaction to Schwartz's statements varied. Many users showed support for his hopes for higher XRP prices. Several users noted that although the price of XRP fluctuates, its long-term potential in cross-border payments remains very relevant.

One user commented, “Yet, seven years later, XRP is still considered cheap,” and Schwartz responded, “Last I checked, $1 million in XRP still costs $1 million, so making a $1 million payment in XRP would still cost at least $1 million. ”

Latest Developments in XRP Prices

When this news was written, the price of XRP had increased 0.82% in the last 24 hours, reaching $0.588, and was up 4.16% in a week. XRP also reached a major milestone this month when the Grayscale XRP Trust opened to accredited investors looking to gain exposure to

With all this information, David Schwartz's hope for a higher XRP price reflects the confidence and potential that XRP has in the future. The crypto community will continue to follow these developments with attention, hoping that XRP can reach its expected value.

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