Following the SEC’s lawsuit against Ripple, the XRP price has been fluctuating between $0.52 and $0.60 since July. The token, which has a daily trading volume of $1.5 billion, continues to struggle with pressure from the macro-level downward logarithmic trend line.
XRP$XRP in the last 24 hours
The price increased slightly to $ 0.588, while the weekly growth rate increased to 4.16%. One of the main reasons for this increase is the trust services offered by Grayscale. Ripple CTO David Schwartz recently expressed his views on the price action of XRP. Responding to a user who stated that XRP was suppressing its price, Schwartz explained that he personally invested in XRP. This led to comments that the CTO had a “different” motivation for the rise.
Schwartz also highlighted an often overlooked consequence of low XRP prices: increased payment costs. This means that more tokens are received and sent for each transaction, which increases costs. However, the company’s policy is to ensure that global payments are made quickly, easily and conveniently.
The exchange rekindled a long-running debate that stemmed from a tweet Schwartz made in 2017, in which he said that XRP would not remain “too cheap” if it were to facilitate large transactions. Despite the current price disappointments, Schwartz remains confident that XRP will one day reach the value needed to efficiently process large payments.
In general, as the movement among XRP whales continues, predictions are increasing that the price will reach $ 2 by 2025. Of course, it is difficult to make a definitive comment on this issue; however, considering the positive developments in the market, it is stated that this target is possible.
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