Why Ripple (XRP) Price Is Not Rising? Ripple CTO David Schwartz Responds!

Ripple CTO David Schwartz, XRP and other big cryptocurrency He believes that the sluggish performance of cryptocurrencies is a result of uncertainty about whether cryptocurrencies will truly be the next major innovation.

Ripple (XRP) CTO David Schwartz Argues That Price Stagnation Has Happened Because People Aren’t Fully Convinced Of Cryptocurrencies Yet

Using the 2000 year Google as an example, Schwartz compared how people at the time were skeptical that the search engine would yield billions of dollars worth of new wealth, but some became true believers and made millions. As of now, he believes crypto is in a similar situation.

I don’t really have a good understanding of what affects the price of cryptocurrencies. But I will tell you what I think is true, though I can’t back it up with facts. It’s just my sense based on data, experience and maybe just feelings. …

— David “JoelKatz” Schwartz (@JoelKatz) January 1, 2023

As a result, prices often move together as investor sentiment rises and declines as more people become convinced of crypto’s future potential, according to Schwartz.

Simply put, “markets are still trying to figure out if crypto will be the next big thing.”

Therefore, mass adoption of different crypto technologies can be successful if the industry can convince people of the potential of crypto by presenting real use cases and adequate scalability.

Schwartz also stressed that this is just his personal opinion and is not supported by facts and data.

Schwartz also points out that while the current stagnant performance of XRP and other major cryptocurrencies is frustrating for investors, it’s important to remember that the crypto industry is still in its early stages.

Just like any other industry, it will take time for the market to mature and the technology to be fully developed and adopted.

*Not investment advice.