Ripple CTO Breaks Silence on XRP Price

This suggests that the focus is on XRP’s functionality as a medium of exchange despite the general market downturn, rather than as an investment asset. In case anyone has forgotten, its utility lies in facilitating fast and cost-effective cross-border transactions.

What is going on?

The current market weakness can be attributed to several factors, including significant liquidations, institutional selling pressure from ETFs and governments, and continued uncertainty surrounding Mt. Gox repayments.

These factors have created an environment in which excessive selling volume exceeds market liquidity, leading to even more painful price declines.

Some experts are predicting a potentially prolonged bearish period due to the confluence of negative factors. Investors, including XRP investors, should prepare for a slow recovery as market sentiment remains cautious.

On the other hand, Schwartz’s perspective suggests that while short-term volatility can impact prices, the long-term viability of cryptocurrencies like XRP depends first on their practical applications.