XRP falls 7% in 24 hours after Schwartz’s price update

Ripple Chief Technology Officer David Schwartz recently attracted attention on social media following a lighthearted response to questions about XRP’s price outlook. Amid persistent calls from community members for strategies to boost the token’s value, Schwartz opted for a straightforward update. He reported that XRP was trading at “around $1.30 or so, up 2.4% in the past 24 hours.” The comment drew amusement from cryptocurrency commentator Digital Asset Investor, who noted Schwartz’s wit in the exchange.

The Criticism Surrounding Ripple Leadership

Recent days have brought increased scrutiny for both David Schwartz and Ripple CEO Brad Garlinghouse. Members of the XRP community and crypto commentators have questioned XRP’s centrality within Ripple’s business model, especially as RLUSD transaction volumes rise.

Concerns have surfaced over whether Ripple’s growing payments activity truly benefits XRP holders. Some investors are discouraged by stagnant price action, despite positive developments, and continue to press Ripple leadership for concrete plans regarding the token’s future.

In response to suggestions that RLUSD may replace XRP’s role, Ripple has consistently stated that RLUSD is not intended to substitute for XRP.

Schwartz has addressed ongoing questions about his long-term vision for XRP. He stated that in his view, “institutional adoption builds the foundation for retail participation to follow.”

Schwartz addressed the criticism by reaffirming Ripple’s commitment to XRP, explaining that institutional adoption would pave the way for broader retail interest in the long run.

Where XRP Stands Now

When Schwartz offered his update, XRP was priced at approximately $1.30. Since then, the token has experienced a decline, now trading at $1.21, representing a drop of more than 7% within 24 hours. This decrease is unfolding against a backdrop of heightened volatility in the broader cryptocurrency market.

Despite ongoing confidence among some analysts regarding XRP’s future, many market participants remain frustrated by the asset’s continued difficulty in sustaining upward momentum. Discussions among community members frequently return to whether Ripple’s business expansions can translate into lasting price growth for XRP.

Community sentiment has grown tense as XRP’s price struggles to respond to positive developments, leaving many holders seeking clearer links between Ripple’s business progress and the token’s value.