Ripple CTO David Schwartz tries to answer why XRP and XLM move in sync
A recent community discussion drew attention to the very similar price movement of XRP and Stellar . Ripple CTO Schwartz, who played a key role in the engineering of XRP Ledger, suggested that the parallel price behavior of XRP and XLM could be influenced by external factors outside of their ecosystems. He acknowledged that there is evidence both for and against this theory, emphasizing the complexity of the issue.
As one key point, Schwartz cited the impact of Stellar's significant token burn last year. Despite the reduction of half of the entire supply, this event did not cause a noticeable deviation in Stellar's price or its correlation to The one bit that's the most convincing to me is that Stellar burned half their supply and there wasn't so much as a blip on their price chart or any real deviation from XRP's price correlation.This made Schwartz believe that a similar burn of Ripple-owned XRP would likely not have a positive impact on the . He once again cited charts comparing the price behavior of XRP and XLM before and after the burn, which showed no significant change.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.Apu Community Hits the Jackpot by Acquiring the Ultra-Rare Domain APU.COMApu Community Hits the Jackpot by Acquiring the Ultra-Rare Domain APU.COMEthereum Price Hits $3,900. Will It Reach $4,500 Before ETFs?
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ripple CTO and Cardano Creator Engage in Heated Debate About XRPTwo cryptocurrency titans, Ripple's David Schwartz and Cardano's Charles Hoskinson, have ignited heated debate over regulatory fate of XRP, with accusations of ETHGate conspiracy
Read more »
Ripple CTO Explains Why They Are Biggest XRP SellersWhy is Ripple selling most XRP? Ripple CTO David Schwartz opens up
Read more »
Ripple CTO Demystifies Tokenization, Stuns XRP CommunityRipple CTO delivers insightful explanation that leaves XRP community stunned
Read more »
Ripple XRP Ledger enters the Japanese market through key partnership, XRP sustains above $0.50Ripple (XRP) sustained above $0.50, a key support level, on Wednesday.
Read more »
XRP tests resistance at $0.52 as Ripple developers propose lending on XRP LedgerRipple (XRP) has failed to close above $0.52 for five consecutive days, struggling with the sticky resistance.
Read more »
Ripple CTO Unveils Crucial Timeline for Stablecoin RevealRipple CTO David Schwartz clarifies Ripple stablecoin launch timeline amid market misunderstanding
Read more »