🔥🔥Ripple Manager Finally Breaks His Silence! What Did He Say About the Collapse in XRP Price? 🔥🔥
Ripple's CTO David Schwartz made important statements today. The price of XRP dropped to $0.38.
Schwartz's statements may cause serious concerns in the cryptocurrency market. There is generally an atmosphere of anxiety in the market. The failure of the market to recover after the rises in March and the continuation of declines demoralize investors. One of the cryptocurrencies most affected by these declines was XRP. Today, the price of XRP fell to $ 0.38, causing a great disappointment for XRP investors who have been suffering for a long time.
Regarding the drop, David Schwartz said: The price of XRP only serves the purpose of obtaining enough XRP to facilitate a payment of $1. Schwartz emphasized that XRP should not be seen as an investment tool, but rather as a medium of exchange. This comment caused negative reactions among XRP investors.
There is general anxiety in the cryptocurrency market. Factors such as large liquidations, institutional selling pressure from ETFs and governments are causing market weakness. Mt. Uncertainty about Gox's repayments also triggers declines in the market. All these adverse conditions come together to cause market liquidity to be overwhelmed by excessive selling volume and painful declines in prices. Experts think that such adverse conditions may indicate a prolonged period of decline.
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