Featured image from Shutterstock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
In an era where crypto analysis is ever-evolving, some sentiments retain their significance. This was underscored when XRP influencer Crypto Eri delved into a statement from Ripple’s CTO, David Schwartz, that, although over five years old, still echoes pertinently within today\u2019s cryptocurrency discourse. When Crypto Eri shed light on this older response from Schwartz, she revisited a debate on XRP’s value dynamics. The query, which originated on Quora, surrounded the speculation that institutions might prefer XRP’s price to remain low for optimizing transaction processes. However, Schwartz’s comprehensive clarification brought forth an opposing perspective. Ripple CTO Weighs In On XRP Price And Liquidity Schwartz articulated that the presumption of banks or financial entities wanting a subdued XRP price is an overreach. He pointed out a fundamental relationship, stating, \u201cHigher prices tend to correlate with higher liquidity, which means cheaper payments.\u201d To elucidate further, he ventured into the intricacies of how XRP functions as a payment medium. Related Reading: ASO Bullish Cross Reveals Bull Run Start For XRP: Crypto Analyst Drawing an analogy with Bitcoin, Schwartz offered a more vivid understanding. If one were to transact $1 million at a time when Bitcoin was valued at a mere $100, the liquidity constraints would induce significant price volatility. As Schwartz elaborated, \u201c… trying to buy enough Bitcoin to buy the house, you\u2019d push the price up significantly. And when the recipient tried to convert those bitcoins into their local currency, they\u2019d push the price down significantly.\u201d However, as Bitcoin rose and crossed the $10,000 threshold (at the time of Schwartz’s contribution), its vulnerability to price fluctuations for larger transactions had decreased. Schwartz attributed this stability to the increased value, which requires a smaller share of total assets to facilitate significant transfers. When drawing parallels, he emphasized that XRP behaves similarly. Therefore, a rising XRP price would undoubtedly make it a superior channel for high-value transactions for the Ripple payment solutions. Schwartz Clarifies (More) Rumors Beyond this age-old yet continually relevant perspective, Schwartz remains active in enlightening the community on diverse XRP-related queries. Addressing a recent Twitter proposition about XRP potentially bolstering the top 1%, Schwartz replied with a rebuttal,\u00a0“I’m not sure I understand this claim. The top 1% of what exactly? XRP empowers anyone who wants to use the ledger to track the ownership and exchange of assets. What kind of control is he talking about exactly?” Related Reading: XRP Price Poised For A 250% Surge, Analyst Points To This Key Catalyst On speculations of the Department of Homeland Security’s capability to ‘hack’ XRP, Schwartz demystified, “I’m not sure what a hack of XRP would even mean. The ledger contents are public. The rules are public… No such bug is known, of course. And any exploited bug would be fixed, so you couldn’t hack it the same way twice.” Lastly, when probing the connection between an old patent of his and XRP\u2019s architectural design, Schwartz elucidated, “I can’t see any real connection between my patent and XRPL design… the patent became mostly irrelevant.” At press time, XRP traded at $0.4952. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":552762,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[15951,3680,4531,84758,88178,10972],"class_list":["post-552761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-david-schwartz","tag-ripple","tag-xrp","tag-xrp-ledger","tag-xrpl","tag-xrpusd"],"acf":[],"yoast_head":"\n
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Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ripple CTO Weighs In: Why A Higher XRP Price Is Beneficial For Adoption","url":"http:\/\/uniquehot.com\/news\/ripple\/ripple-cto-why-a-higher-xrp-price-is-beneficial-for-adoption\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ripple\/ripple-cto-why-a-higher-xrp-price-is-beneficial-for-adoption\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/shutterstock_1185176242.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/shutterstock_1185176242.jpg?fit=5184%2C3456"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["david schwartz","ripple","xrp","xrp ledger","xrpl","xrpusd"],"dateCreated":"2023-09-25T12:30:22Z","datePublished":"2023-09-25T12:30:22Z","dateModified":"2024-06-11T08:02:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ripple CTO Weighs In: Why A Higher XRP Price Is Beneficial For Adoption\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/ripple-cto-why-a-higher-xrp-price-is-beneficial-for-adoption\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/ripple-cto-why-a-higher-xrp-price-is-beneficial-for-adoption\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/shutterstock_1185176242.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/shutterstock_1185176242.jpg?fit=5184%2C3456\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"david schwartz\",\"ripple\",\"xrp\",\"xrp ledger\",\"xrpl\",\"xrpusd\"],\"dateCreated\":\"2023-09-25T12:30:22Z\",\"datePublished\":\"2023-09-25T12:30:22Z\",\"dateModified\":\"2024-06-11T08:02:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/shutterstock_1185176242.jpg?fit=5184%2C3456","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/552761"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=552761"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/552761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/552762"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=552761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=552761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=552761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"XRP](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/XRPUSD_2023-09-25_12-32-18.png?resize=3628%2C1672\")