David Schwartz Expresses Desire for XRP Price Surge and Highlights Realistic Use Cases
David Schwartz, the Chief Technology Officer at Ripple, has always been vocal about his support for XRP. Recently, he reiterated his desire to see the price of XRP rise, stirring conversations within the crypto community. Schwartz’s stance on XRP’s price was highlighted in a response on the social media platform X (formerly known as Twitter), where he openly discussed his aspirations for the cryptocurrency’s value and its practical applications in cross-border payments.
In a post on X, Schwartz confirmed that he holds XRP, stating, “I own XRP. If there were any way for me to raise its price, I assure you, I would do it.” This declaration sparked interest and curiosity among XRP enthusiasts, as many believe that Ripple’s future hinges on the performance of XRP. His comment underscores the significance of XRP in Ripple’s broader business strategy and the potential that a higher XRP price could bring to the crypto’s utility.
Schwartz further elaborated on the impact of XRP’s price on payments. He argued that a lower price for XRP could make transactions more expensive. He compared the situation to Bitcoin, explaining that when Bitcoin (BTC) was valued at $100, it was impractical to use it to buy large assets like a house. However, as Bitcoin’s price surged, the practicality of using it in such transactions increased. Similarly, Schwartz emphasized that a low price for XRP would make payments less efficient, as users would need to spend more XRP to complete transactions. “Lower XRP prices make XRP payments more expensive,” he explained.
In the realm of payments, Schwartz made an important point about the practicality of using XRP. He noted that the need to send one XRP to someone is not a typical use case. Instead, a more realistic scenario involves someone wanting to send $50 to another person in Mexico, highlighting XRP’s value proposition for cross-border payments. This example demonstrates how XRP can play a crucial role in streamlining international remittances, particularly in regions where traditional banking systems are less accessible or more costly.
Schwartz’s enthusiasm for a higher valuation of XRP is not new. His recent remarks on X align with sentiments he expressed years ago. In a 2017 post, he argued that the price of XRP cannot remain excessively low if it is to be used effectively for large transactions. He illustrated his point by saying, “If the price of XRP is $1, they will need a million XRP, which would cost $1 million. If the price of XRP is $1 million, they will need just one XRP, which would still cost $1 million.” This analogy emphasizes the scalability of XRP’s value, suggesting that as the price of XRP rises, its use in large-scale financial transactions becomes more feasible.
One X user recently commented on Schwartz’s 2017 post, noting, “However, seven years later, the price is still extremely low.” To this, Schwartz humorously responded, “Last time I checked, a million dollars’ worth of XRP still costs a million dollars.” His witty remark highlights the static nature of value in financial transactions—no matter the price of an individual token, the overall transaction cost for a large sum remains the same in dollar terms.
As of the time of writing, XRP’s price saw a modest increase of 0.82% over the past 24 hours, reaching $0.588. On a weekly scale, it experienced a more significant rise of 4.16%. These fluctuations are closely watched by both investors and enthusiasts who are optimistic about XRP’s long-term potential.
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A major milestone for XRP was achieved this month with the opening of the Grayscale XRP Trust, a financial product designed for accredited investors seeking exposure to XRP. This development marks an important step in institutional adoption, as Grayscale’s trust provides a regulated vehicle for large investors to participate in the XRP market. The XRP Trust is underpinned by the XRP Ledger, a decentralized network that facilitates cross-border payments—a use case that Schwartz frequently champions.
Schwartz’s remarks and the recent developments surrounding XRP highlight the growing momentum behind the cryptocurrency. With increased institutional interest, expanding use cases in global payments, and Ripple’s continued advocacy for XRP, the future looks promising for the token. While XRP’s price remains a focal point of discussion, its underlying technology and potential to revolutionize cross-border payments may ultimately drive its long-term value.
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