Ripple CTO’s Ethereum Tale Stirs Speculation in the XRP Community


In a recent post on X, Ripple CTO David Schwartz recounted a regrettable incident involving the sale of his 40,000 ETH at $1. The funds were initially intended for installing solar panels on a house he ironically no longer owns. 

Schwartz expressed remorse over the Ethereum sale, acknowledging that the current value of the tokens he sold would now be an astonishing $100 million. This narrative has triggered speculation among cryptocurrency investors, particularly within the XRP community, leading them to reassess their perspectives on holding XRP.

Ripple: Is the Community Bullish On Schwartz’s Statement?

Members of the XRP community have discerned a subtle yet meaningful message in Schwartz’s narrative. They view it as an encouragement to hold onto their XRP, even if its price falls below $1.

A supporter of XRP on the X platform asserted that David Schwartz is conveying a message about the rewarding outcome of patience, foreseeing an anticipated surge in the value of XRP soon. Interestingly, Schwartz also shared a parallel story involving his father. His father invested heavily in house renovation by selling apple stocks, only for those stocks to increase fivefold afterwards.

This story unfolded against the backdrop of XRP experiencing a period of price consolidation that frustrated community members. While the broader crypto market witnessed a significant bull run over a couple of weeks, XRP’s movement remained relatively stagnant, causing the community to feel a sense of unease.

Uphold Introduces Self-Custody Wallet Vault with Focus on XRP

Uphold has unveiled its self-custody wallet, Vault, as part of its strategic initiative to cater to the extensive XRP user community. The platform is designed to support Ripple’s XRP token. Uphold’s CEO, Simon McLoughlin, emphasised the wallet’s simplicity and user-friendliness, addressing common challenges associated with self-custody solutions.

Simultaneously, XRP has recently witnessed a significant surge in value, breaking through the $0.60 resistance level. Currently, the XRP price stands at $0.694080, boasting a 24-hour trading volume of $20 billion. This reflects an 8.31% price increase in the past 24 hours and a substantial 12.83% surge over the last 7 days.

Read Also: Ripple Strategic Move: Unlocking 1B XRP as Escrow Balance Dips Below 40B 

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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