- Schwartz advises exploring alternatives like Automated Market Makers or staking for growth, diverging from reliance on price surges alone.
- Despite recent price dips, optimism for XRP’s future growth persists, with predictions of reaching new highs in the 2024 bull market.
A recent discussion on X brought this issue into the spotlight when an XRP enthusiast questioned the asset’s potential for “gradual appreciation,” contrasting it with other projects seen as more speculative.
David Schwartz, the Chief Technology Officer at Ripple, responded to these queries by drawing a comparison with Bitcoin’s price evolution over the last 12 years, presented on a logarithmic scale to highlight its long-term growth trend.Â
Schwartz suggested that, similar to Bitcoin, XRP’s trajectory is one of slow and steady appreciation. He also pointed towards alternative investment strategies like Automated Market Makers (AMMs) or staking as avenues for consistent growth, diverging from the sole reliance on price appreciation.
Hey @JoelKatz can you maybe elaborate what exactly you mean by "gradual appreciation"? Because XRP doesn’t look at all like something that gradually appreciates in price if you compare it to projects that are actually much more favored for speculation. https://t.co/1vRFBqyf1L pic.twitter.com/Q3PZ4qze7a
— Mr. Huber🔥🦅🔥 (@Leerzeit) March 10, 2024
The conversation took an interesting turn with Bill Morgan, a staunch supporter of XRP, criticising those who chase after quick profits from market fluctuations, referring to them as “moon boys.” In this context, Schwartz presented a balanced view, acknowledging the varied investment philosophies within the crypto community. He advised those treating cryptocurrencies akin to lottery tickets to adopt a more cautious approach, highlighting the risks of seeking additional speculative opportunities, as we previously reported in ETHNews.
Here is a chart of bitcoin over the past 12 years on a log scale. The long-term behavior is that of gradual appreciation.
When evaluating things like AMMs or staking, I generally evaluate them as an alternative to long-term holding which gives you this long-term gradual… pic.twitter.com/KK718g0c1k
— David "JoelKatz" Schwartz (@JoelKatz) March 10, 2024
This exchange between Ripple’s CTO and the crypto community highlights the differing investment perspectives that exist within the sector. Schwartz’s comments shed light on the value of patience and the potential for assets like XRP to yield returns over time, despite current market conditions.Â
As of the latest market update, XRP was trading at $0.6231, experiencing a minor setback. However, optimism remains within the XRP community, with predictions of reaching new highs in 2024, buoyed by the current bull market trends.
Ripple’s commitment to fostering an informed and engaged community is evident through Schwartz’s willingness to engage in open dialogues, offering insights that underscore the company’s transparency and long-term vision
