XRP Price Speculation Refuted by Ripple CTO: Focus on Utility Function

Bittime - The crypto market is currently experiencing significant selling pressure affecting various major cryptocurrencies, including responded by emphasizing XRP's utility over its investment potential.

Focus on XRP Utility Functions

Schwartz explained that the current price allows users to acquire sufficient amounts of XRP to facilitate payments of the exact value appropriate to the cryptocurrency. He asserted that this demonstrated XRP's primary function as a medium of exchange, facilitating fast and cost-effective cross-border transactions, despite market turmoil.

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Critical Response from the Community

However, some community members expressed dissatisfaction with the comments, accusing Ripple's CTO of diverting from previous statements and manipulating the narrative. Critics highlighted previous statements indicating that XRP prices would not stay low, and accused Schwartz of trolling and dishonesty.

XRP: Investment Instrument or Functional Tool?

Schwartz then explained his position, insisting that his current comments were consistent with his previous statements. He emphasized that the focus has always been on XRP's functional utility in the payment system rather than its price as an investment asset. His response aimed to dispel speculation and reinforce his views on XRP's fundamental purpose.

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Long Term Strategy for XRP

Despite current market challenges, the emphasis on XRP's utility highlights what may be a long-term strategy to promote it as a practical tool for efficient and affordable international payments. However, the question arises, is XRP really an investment instrument?

Conclusion

In this context, Schwartz and Ripple continue to underscore that XRP's true value lies in its ability as an effective medium of exchange, not just as an object of market speculation. This reflects their focus on building an ecosystem that facilitates the global adoption of XRP in everyday use, despite ongoing price fluctuations in global crypto markets.

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