Is there a problem in the internal affairs of Ripple (XRP), which has made significant gains in its war with the SEC? There has been some speculation that Ripple’s chief technology officer, David Schwartz, will leave the company. However, Schwartz signaled that he did not want to leave. According to crypto analyst Tony M, it is possible for Ripple (XRP) to return to $0.50.
David Schwartz: I don’t feel fit for it anymore!
Ripple’s chief technology officer, David Schwartz, said he would “love a little” starting a new project from scratch. In this context, Schwartz explained that he has a lot of new things he wants to work on. However, he also emphasized that he did not want to make a superficial effort only. On the other hand, Schwartz admitted that he no longer had the passion to start a big new project.
David Schwartz is the architect behind the XRP Ledger. In other words, Ripple’s trillion dollar man. Schwartz says he doesn’t want to work 50 hours a week for the next two years. “I don’t feel fit for it anymore,” he says, as the reason for this.
David Schwarz says he has a very busy work schedule while working on XRPL with Stefan Thomas, Arthur Britto and Chris Larsen. However, he hardly thinks he can re-lead such a large project at the moment. Schwartz says he likes the idea of Ripple working with cutting-edge technologies and producing products that have yet to be decided.
Ripple lost an experienced cryptographer
By the way, cryptocoin.comAs you follow, senior cryptographer Nik Bougalis announced on October 21 that he is parting ways with Ripple. Bougalis spent nearly a decade working on the XRP Ledger. Describing his journey as ‘wonderful’, Bougalis noted that he is grateful to Schwartz, Britto and other teammates. Schwartz said he was “sorry” that he could no longer work with Bougalis. However, he also stated that he is pleased with his former colleague’s progress now.
XRP shows rally potential
Crypto analyst Tony M examines the technical levels of XRP. XRP is showing strength after a sustained weekly bearish move. After an 18% mudslide in the month, the bulls rally 10%. The initial retracement after the uptrend continues and remains shallow at the moment. There are a few more reasons to suggest that Ripple will go higher.
XRP is currently auctioning at $0.4571. The digital remittance token is now auctioned when placed above the Relative Strength Index. This is a subtle sign of optimism as Ripple price has been auctioning off in the oversold zone for about a week. Additionally, volume remains extremely low compared to previous sales.
Based on evolving techniques, it is possible for the bears to witness a ground battle near the $0.485 liquidity levels. If the bulls can stabilize and find support above the recently rejected 8-day exponential moving average at $0.47, an additional rally as high as $0.50 is possible. This will likely result in a 15% increase in market value.
The strength of the countertrend is dependent on the newly formed low at $0.42 remaining unbroken. If the bears manage to catch the low, a drop targeting the $0.39 liquidity levels is possible. Such a move would result in a 14% drop from the current XRP price.
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