XRP Metrics Flash Caution as Ripple CTO Touts XRPL’s Pivotal Role
Main Idea
XRP is currently in a consolidation phase after a recent price drop, with analysts suggesting cautious optimism, while Ripple's CTO emphasizes the XRP Ledger's role in driving XRP's utility as a neutral bridge asset.
Key Points
1. XRP has dropped 11% this week and 2% in 24 hours, cooling off after a 40% surge earlier this month, with 93% of supply still in profit.
2. Analysts suggest caution, noting that if bulls hold key support levels, XRP could make another run toward higher prices.
3. Ripple CTO David Schwartz reaffirmed XRP's core focus, highlighting its utility as a bridge currency in a multi-stablecoin ecosystem.
4. Schwartz emphasized that increased adoption of the XRP Ledger (XRPL) will drive XRP's utility and position it as a liquidity backbone in global asset interoperability.
5. XRP faces a wait-and-see sentiment after retreating from its all-time high of $3.65.
Description
XRP Witnesses a Wait-and-See Scenario According to Blockchain Bulletin, XRP has dropped 11% this week and 2% in 24 hours, cooling off after a 40% surge earlier this month pressured by $140M in transfers from Ripple co-founder Chris Larsen and widespread profit-taking, with 93% of supply still in the green. The leading on-chain metrics provider added , “Whale activity, combined with overheated metrics, suggests short-term caution rather than panic.” Therefore, XRP’s current consolidation signals ...
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