• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
Ripple Schwartz XRP price

Ripple CTO Explains What Drives The XRP Price

Jake Simmons
by Jake Simmons
1 year ago
·
Posted in XRP
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Amidst swirling discussions and concerns within the cryptocurrency community regarding the price performance of XRP, Ripple’s Chief Technology Officer, David Schwartz, has taken to X (formerly Twitter) to address and clarify the company’s position and actions related to XRP sales.

This conversation comes at a time when allegations of price manipulation have been levied against Ripple, particularly focusing on how the company’s handling of XRP could potentially affect its market value.

Ripple CTO Clarifies Impact Of XRP Sales

Schwartz’s initial response to the community’s apprehensions emphasized Ripple’s commitment to transparency and a strategic approach to selling XRP. He directly addressed the community’s concerns, stating:

I understand caring how much we sell, but honestly I don’t really understand why people think it matters so much exactly how we sell XRP. Yes, we choose when to sell. Yes, we choose how much to sell. And everyone can see how much XRP comes out of escrow and how much goes back in.

This statement was aimed at reassuring the community that Ripple’s actions regarding XRP sales are both deliberate and transparent, especially in light of the discontinuation of programmatic sales highlighted in Ripple’s Q1 2023 XRP markets report.

Related Reading: Ripple CLO Bashes SEC As ‘Police State’ Agency, Here’s Why

The conversation took a deeper turn when @Darkhorse raised the notion of “Letting XRP Breath” by proposing a temporary halt on sales to potentially aid in price discovery. Schwartz’s retort was pointed, questioning the underlying logic of such a pause, “Are you asking us if we’ve considered manipulating the price?”

This exchange underscores the delicate balance Ripple seeks to maintain between influencing the market and fostering an environment where XRP’s price is determined by market dynamics.

Further, Schwartz elaborated on the complexity of the issue, indicating that halting sales could itself be construed as a form of manipulation, challenging the community’s perception and expectations, “That’s what I don’t understand! Either it is or it isn’t. There’s no third alternative. […] If it’s manipulation, why are you asking us to do it? If it’s not, then what is this entire issue even about?”

What Really Drives XRP Price

In a revealing comment about Ripple’s long-term strategy and the challenges faced, Schwartz acknowledged, “We were originally hoping to get our holdings way down in just a few years mostly using giveaways. That strategy just didn’t work.”

Related Reading: XRP Lawsuit: Experts Quash Ripple-SEC Settlement Rumors

Schwartz added that Ripple does not want to hold “lots of XRP for decades, but it’s not clear what other options we have.” Addressing the broader question of what influences XRP’s price, Schwartz was unequivocal in his view that external factors play a more significant role.

He remarked: “I believe the primary drivers of XRP’s price have almost nothing to do with any factors specific to the XRP ecosystem.” This perspective is crucial, highlighting the CTO’s belief that market forces, rather than Ripple’s specific actions, are the main determinants of XRP’s price.

Correlation With XLM

The discussion also ventured into the potential impact of burning unused escrowed XRP, a suggestion from the community as a means to positively affect its price. Schwartz was skeptical of this approach, drawing parallels with Stellar Lumens’s burn event, which he noted had “no real effect” on its price, thereby questioning the efficacy of such measures.

When probed about the price correlation between XRP and Stellar Lumens (XLM), Schwartz offered insights, suggesting that the similarity in price movements could be attributed to external factors common to both cryptocurrencies rather than internal ecosystem dynamics.

“I can’t prove that there’s any particular explanation. But I think it’s because the primary drivers of the price of XRP come from factors external to the XRP ecosystem and common to XRP and XLM,” he stated.

Moreover, Schwartz provided alternative theories but remained firm in his belief that external market forces were the primary drivers. He said:

I’ll give two alternative explanations that I don’t believe are correct, but that you may want to consider: 1) XRP is bigger than XLM and the market considers them somewhat comparable, so XRP “drags” XLM around somehow. 2) Some person or conspiracy of people are manipulating XRP and/or XLM’s price to make them track each other.

At press time, XRP traded at $0.5586.

XRP price
XRP price, 1-day chart | Source: XRPUSD on TradingView.com
Featured image from IQ.wiki, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jake Simmons

Jake Simmons

Follow

Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

Full Profile

Related Posts

XRP

Japanese Gaming Giant Plans $17 Million XRP Buy, Here’s Why

1 day ago
Ripple XRP

XRP Ledger Records New $131.6 Million All-Time High In This Major Market

1 day ago
XRP regret

ZachXBT Blasts Ripple Holders, Reveals Why He Does Not Assist/Support The XRP Community

2 days ago
XRP

American Rap Star Shouts Out XRP During Performance, Says It’s Not Too Late To Buy

3 days ago
Ripple XRP

Ripple Scores Another Huge Win As Chinese Powerhouse Moves Trillion-Dollar Supply Chain To XRP Ledger

3 days ago
XRP

Crypto Expert Reveals Why Ripple’s XRP Didn’t Fail Years Ago

3 days ago

Premium Sponsors

Press Releases

  • Cloud Mining

    Can Cloud Mining Earn You $100,000 a Month? The Most...

    8 hours ago
  • ETNCrypto

    Win $100 Free Bonus: ETNCrypto Cloud Mining Launches Daily...

    9 hours ago
  • Ripple ecosystem expands: Gemini launches XRP credit card...

    9 hours ago
  • Trump to Launch WLFI Token on September 1st, DOT Miners...

    10 hours ago
  • XRP Investors Flock to BAY Miner, Earning Daily BTC Returns...

    12 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.