Latest news with #DavidSchwartz
Yahoo
4 days ago
- Business
- Yahoo
Ripple Cannot Control XRP Ledger: CTO David Schwartz
XRP Ledger's codebase does not possess some secret back door that would allow Ripple to single-handedly control the network, according to the digital payment company's Chief Technology Officer David Schwartz. Despite XRP Ledger's continued adoption among financial institutions, the misconception that 'Ripple somehow controls the ledger' has lingered, he told Decrypt in a recent interview. 'We are a major contributor to the ecosystem. It is obviously very important to us,' he said. 'But we have no interest or desire in running the network.' Corners of the crypto industry have questioned XRP Ledger's decentralization for years, flagging a low number of validators compared to other networks as a potential weak point. XRP itself has also drawn scrutiny because Ripple owns billions of XRP tokens. Around 23,000 Bitcoin nodes could be reached worldwide on Wednesday, according to Bitnodes. Meanwhile, XRP Ledger had 186 validators online, according to XRPScan. Anyone can run a validator, and Ripple is responsible for only one, according to XRP Ledger's website Schwartz acknowledged that Ripple may be the most interested participant in XRP Ledger's ecosystem—as a provider of infrastructure updates and grants—but he said Ripple cannot dictate what activity takes place on XRP Ledger, nor would it want to. Changes that would impact transaction processing on XRP Ledger need approval from 80% of the network. 'We wouldn't want to be able to censor transactions, because then people could pressure us,' he said. 'Nobody has ever had a transaction stopped by Ripple. If they did, they'd say so.' Schwartz co-founded XRP Ledger before joining Ripple, and his foundational role may invite comparisons to Ethereum and its relationship to co-founder Vitalik Buterin. However, Ripple's control over XRP's supply is relatively distinct, with it being among the asset's largest holders. As of October, Ripple said it held 38 billion XRP in escrow, a significant chunk of the 100 billion XRP that was gifted to it by XRPL's co-founders in 2012. As a result, some critics believe that Ripple has the ability to influence XRP's scarcity by periodically selling tokens. Ripple's decentralization strategy has been ongoing since XRP Ledger debuted in 2012, and that has included paring back the number of key validators that the company controls. Bitcoin, Ethereum ETF Swoon Likely Temporary Blip Before Next Surge: Analysts XRP Ledger's security relies on Unique Node Lists. Each validator maintains a list of network participants that it trusts not to conspire. The XRP Foundation maintains a default Unique Node List, which is widely popular, and used to include several Ripple-owned validators. Ripple has run one of 35 validators on the XRP Foundation's default Unique Node List since July 2023, according to the company's website. And that represents a small sliver of the overall network, Schwartz said. 'We run something like 1% of the network,' he said. 'We don't have any say over transactions.'
Yahoo
4 days ago
- Business
- Yahoo
Ripple breaks silence on shocking controversy
Ripple breaks silence on shocking controversy originally appeared on TheStreet. Time and again, Ripple has faced questions over allegedly controlling the XRP Ledger, and the crypto payments company's chief technology officer, David Schwartz, has tried clearing the air. In an interview with Decrypt on Aug. 6, Schwartz addressed the controversy again. Though he admitted there is a lingering misconception that Ripple controls the XRP Ledger, he said the Ledger's code isn't secretly controlled by Ripple even if the financial institution is a major contributor to the ecosystem. Though the XRP Ledger is "obviously very important" to Ripple, it has no interest in running the network, he added. However, it is crucial to understand why the questions around Ripple's centralized control over the XRP Ledger arise. Schwartz is behind both the payments firm and the ledger. Notably, the XRP Ledger founders have gifted 80 billion XRP to Ripple, out of which the firm has locked 55 billion XRP into a series of escrows using the same ledger. As of October 2024, 38 billion XRP remained in escrow. Besides, XRP Ledger has a very low number of validators running the network as compared to other blockchain networks like Bitcoin and Ethereum. However, Schwartz said that Ripple never censored any transaction. It isn't the first time that such concerns around Ripple's control over XRP have been raised. Earlier in May, Schwartz wrote a detailed comment on X in which he drew the distinction between Ripple and XRP. However, Ripple co-founder Chris Larsen recently moving XRP worth millions of dollars sparked fresh scrutiny. There is, of course, the legal battle around the financial status of XRP that has been going on since 2020. Ripple breaks silence on shocking controversy first appeared on TheStreet on Aug 7, 2025 This story was originally reported by TheStreet on Aug 7, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-08-2025
- Business
- Yahoo
Is XRP the best buy for $500 today?
Is XRP the best buy for $500 today? originally appeared on TheStreet. A popular post doing the rounds on social media last week claimed XRP was 'the best buy you can make right now with $500.' It sparked both excitement and outrage — but it raised an important question whether XRP truly ready for its moment? Ripple's long-running legal battle with the U.S. Securities and Exchange Commission (SEC) is finally approaching its end. The SEC sued Ripple back in 2020, accusing it of selling XRP as an unregistered security. But in 2023, a major court ruling clarified that XRP is not a security when sold to the general public. Now, Ripple is expected to see the remaining legal appeals dismissed by August 15 — a move that would officially close one of crypto's most closely watched cases At the same time, Ripple's Chief Technology Officer David Schwartz is leading new upgrades to the XRP Ledger (XRPL), aiming to increase developer engagement and throughput by migrating to a new architecture built on the Rust programming language. Price action and momentum As of writing, XRP is trading at $3.04, up nearly 6% driven by a fresh batch of optimism, driven by both regulatory clarity and infrastructure development. Key indicators are flashing green. One of them is the MACD — or Moving Average Convergence Divergence — which suggests momentum is shifting bullish. On the 3-hour XRP/USD chart, the MACD line has crossed above the signal line, while volume has climbed to over $5.4 billion. This suggests XRP could be in the early stages of a short-term XRP breaks through the $3.10 level, analysts believe it could rally to $3.30 — putting it within striking distance of its 2018 all-time high of $3.84. However, if the rally fades, XRP could fall back to $2.85 as support. Long-term conviction XRP's long-term holders — also known as HODLers — are growing in number. Glassnode data shows a steady rise in the number of wallets holding XRP for over two years, especially since early 2024. Some addresses have even held for more than seven years, signaling deep-rooted confidence in the asset. This increasing HODL trend suggests XRP investors aren't just in it for quick flips — they're betting on long-term value, especially as Ripple re-establishes itself on firmer regulatory takeaway? Between the nearing end of Ripple's legal saga, strong technical signals, and growing faith from long-term holders, XRP has a lot going for it. But like every crypto asset, it still rides the waves of volatility. Is it the best buy for $500? That depends on your risk tolerance. But it's certainly earned a fresh look. Disclaimer: This is not financial advice. Always do your own research or consult a licensed advisor before investing. Is XRP the best buy for $500 today? first appeared on TheStreet on Aug 4, 2025 This story was originally reported by TheStreet on Aug 4, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Economic Times
22-07-2025
- Business
- Economic Times
XRP leaves Bitcoin in the dust? Ripple hits all-time high against BTC in shocking surge
Synopsis XRP price hits all-time high – Ripple just shocked the crypto world! XRP skyrocketed past its 2018 high, hitting $3.70, as daily volume on the XRP Ledger surged 50% to $1.4 billion. With a golden cross, bullish signals, and talk of hitting $10 soon, XRP could be leading the next big altcoin rally. Retail and institutional eyes are watching closely—this breakout may just be the start. XRP's rising dominance and growing Washington support are making it a top contender in crypto right now. Can it really outperform Bitcoin? Agencies XRP price prediction beats Bitcoin surge — Backed by powerful data, XRP just smashed through its 2018 high, touching $3.70 as daily transaction volume on the XRP Ledger soared 50% to $1.4 billion. Technicals confirm the move: a golden cross, rising open interest, and MACD bullish crossover all point to a potential breakout toward $7–$10. XRP dominance is nearing 5.75%, a level unseen in over 2,200 days—if broken, it could signal an altcoin-led rally. XRP Leaves Bitcoin in the Dust: Can Ripple Hit $10 in 2025? XRP just stunned the crypto world, surging past its 2018 high of $3.70 and igniting speculation that it might be on track to outperform Bitcoin. With daily transaction volume on the XRP Ledger jumping 50% to $1.4 billion, this isn't just a price rally—it's a full-blown ecosystem breakout. From technical breakouts to macro-level adoption and institutional inflows, XRP is checking all the boxes of a top-performing altcoin in a new bull cycle. XRP is currently trading around $3.54–$3.57, just under its all-time high of $3.66. The recent rally is driven by: XRPL Activity Explosion : Daily volume on the XRP Ledger has skyrocketed to $1.4 billion. : Daily volume on the XRP Ledger has skyrocketed to $1.4 billion. Bullish Technicals : A golden cross (20-day SMA over 200-day SMA) has formed, signaling strong upside potential. : A golden cross (20-day SMA over 200-day SMA) has formed, signaling strong upside potential. Institutional Interest : Open interest in XRP derivatives is rising sharply, nearing $11 billion. : Open interest in XRP derivatives is rising sharply, nearing $11 billion. Washington Policy Tailwinds: The Genius Act and crypto-friendly regulation under Donald Trump are boosting investor confidence. 'We're witnessing an unprecedented spike in XRPL activity, marking renewed confidence from both the developer ecosystem and institutional players.' — David Schwartz, CTO at Ripple Yes—and it's a big one. Analysts are tracking a classic cup and handle pattern on the chart. A confirmed breakout above $3.52–$3.56 could unlock the next wave toward $4.50 and beyond. Key levels to watch: Price Level Significance $3.28 200-day SMA—long-term support $3.35 Handle bottom—psychological pivot $3.44 Bollinger Band midline—local support $3.66–$3.84 All-time high zone—critical breakout confirmation $4.00+ Short-term target post breakout Over the last month, XRP has outpaced BTC by more than 60% in USD terms. It's also gaining ground in BTC pairs, with XRP/BTC now approaching the 0.038 resistance mark. If it breaks through, we could see a broader altcoin shift away from Bitcoin dominance. $3.80–$4.47 possible, according to Peter Brandt and Bitget, if momentum holds. possible, according to Peter Brandt and Bitget, if momentum holds. Break above $3.56 could trigger short-term price action up to $4.00–$4.50 . could trigger short-term price action up to . Weekly forecast: 8–20% upside projected by end of July. $5.00–$10.00 range viewed as likely if institutional flows, ETF approvals, and macro trends stay positive. range viewed as likely if institutional flows, ETF approvals, and macro trends stay positive. Dr. Cat (NewsBTC) believes a $6–$10 surge is possible if Bitcoin reaches $144K. $20–$30 targets are being floated by analysts like XRPunkie and CoinCentral. targets are being floated by analysts like XRPunkie and CoinCentral. The MVRV golden cross has triggered some extremely bullish projections, including a speculative $22–$45 range . has triggered some extremely bullish projections, including a speculative . Gann analysis suggests XRP could even touch $45 in the next bull cycle—but caution is warranted. XRP Dominance (XRP.D) is nearing 5.75%, a key resistance zone not breached in over 2,200 days. Breaking above it could trigger the next explosive move. However, wallet data and HODLer activity hint at a short-term cool-down or consolidation phase. Traders should watch for failed breakouts or divergence in on-chain metrics. Timeline Conservative Target Moderate Estimate Speculative Bull Case Short-Term $3.80–$4.47 — — Q4 2025 ~$5.00 $6.00–$10.00 — 2026+ $7.00–$20.00 — $22.00–$45.00 All signs point to XRP being one of the early leaders of the next crypto bull cycle. With soaring transaction volume, bullish chart patterns, ETF whispers, and political momentum, XRP may be gearing up for a breakout that leaves even its 2018 rally in the dust. That said, a short-term pullback wouldn't be unusual, and key resistance levels like $3.66, $3.84, and XRP.D > 5.75% need to be breached to unlock the full upside potential. XRP hit a new multi-year high at $3.70 , surpassing its 2018 peak. , surpassing its 2018 peak. Ledger volume surged 50% to $1.4 billion per day. to $1.4 billion per day. Analysts predict $5–$10 by late 2025 , with $20+ in play long term. , with $20+ in play long term. Technical momentum remains strong , supported by golden cross and MACD crossover. , supported by golden cross and MACD crossover. Short-term consolidation is possible, so watch support levels carefully. XRP is currently trading at around $3.54, showing a modest 1.1% increase on the day, with intraday highs near $3.58. Over the past month, XRP surged approximately 50–60%, breaking from under $2.40 earlier in July to reclaim multi-year highs near $3.70. This momentum has been further bolstered by favorable on-chain activity and rising institutional interest. While Bitcoin remains the top digital asset by market cap, XRP is currently outperforming BTC in several key metrics, including price growth, transaction volume, and ecosystem activity. XRP recently surpassed its 2018 high, hitting $3.70, while also gaining market share in BTC pairings. If you're seeking short- to mid-term gains and exposure to a fast-growing network with increasing institutional interest and favorable regulatory momentum, XRP could offer better risk-reward potential than Bitcoin at this moment. However, Bitcoin is still considered a long-term store of value, whereas XRP is more of a utility-driven asset focused on payment rails and liquidity. Yes, multiple analysts believe XRP can potentially reach the $7–$10 range by the end of 2025, especially if current bullish momentum continues. The XRP Ledger has seen a 50% spike in daily transaction volume, while open interest in XRP derivatives and technical indicators like the golden cross and MACD crossover are pointing to continued strength. Furthermore, XRP dominance (XRP.D) is nearing a breakout level at 5.75%—if cleared, this could unleash a massive price surge. However, it's important to note that such targets depend on broader market sentiment, Bitcoin stability, and continued adoption of XRPL technology. XRP's recent rally is fueled by a combination of technical breakout patterns, ecosystem growth, and increasing institutional and retail interest. The XRP Ledger saw transaction volumes rise sharply to $1.4 billion daily, while XRP formed a cup-and-handle pattern on the charts—a strong bullish indicator. Additionally, support from regulatory circles in Washington, including policy direction under Donald Trump's administration, has made XRP more attractive to institutions. A golden cross (where the 20-day moving average crossed above the 200-day) and positive momentum in derivatives markets have further added fuel to the surge. Like all cryptocurrencies, XRP carries a degree of volatility and risk, especially in the short term. Despite its strong fundamentals and growing adoption, XRP is still subject to regulatory developments, global market cycles, and speculative trading behavior. That said, many investors view XRP as having a better risk-reward profile in 2025 due to its clear utility in cross-border payments and growing traction in the financial ecosystem. As always, it's crucial to do your own research and consider diversifying your investment to manage risk effectively. Unlike most altcoins that primarily serve as speculative assets, XRP is a utility-driven token used to facilitate fast, low-cost international payments on the XRP Ledger. It was designed to work with financial institutions, and it's increasingly being adopted by banks, fintech companies, and payment processors. Additionally, the XRP Ledger supports smart contracts, NFTs, and decentralized finance (DeFi), making it a more versatile platform compared to many traditional Layer 1 tokens. This unique blend of speed, scalability, and institutional focus sets XRP apart in the crowded crypto landscape. Key indicators to watch include XRP's price movement near historical resistance levels, particularly $3.66 and $3.84. Traders also monitor XRP dominance (XRP.D)—a breakout above 5.75% could trigger a major price leg. Technical patterns like the cup-and-handle, golden cross, and bullish MACD crossover are strong signs of upward momentum. Additionally, keep an eye on transaction volume on the XRP Ledger and open interest in XRP derivatives. A sudden spike in either could hint at another breakout rally. XRP has the potential to be a cornerstone of institutional crypto infrastructure, especially in cross-border payments and liquidity management. If regulatory clarity continues to improve and adoption accelerates, XRP could see significant long-term value. Some analysts even predict XRP reaching $20–$45 by the late 2020s, particularly if Ripple's ongoing partnerships with central banks and financial institutions bear fruit. However, long-term investors should remain cautious of global market conditions, evolving regulation, and competitive pressures from other blockchain networks.
Yahoo
01-07-2025
- Business
- Yahoo
XRPL EVM Sidechain Goes Live, Unlocking Ethereum Dapps in XRP Ecosystem
Ripple officially introduced the XRP Ledger's Ethereum Virtual Machine (EVM) sidechain to the mainnet in an bid to improve the ecosystem's interoperability and allow developers to deploy their Ethereum-based decentralized applications (dapps) with the XRPL. The development adds EVM-compatible smart contracts while maintaining a connection to the XRPL, giving developers access to the ecosystem at a low cost, Ripple said in a blog post. It is designed to eliminate the trade-off between EVM compatibility and XRPL's own advantages, opening the door for dapps to lean into XRP's payments infrastructure. 'The XRPL EVM Sidechain introduces a flexible environment for developers to deploy EVM-based applications, while maintaining a connection to the XRPL's efficiency,' David Schwartz, Ripple's chief technology officer and a co-creater of XRPL, said in the post. 'It extends the capabilities of the ecosystem without changing the fundamentals that make the XRPL reliable.' The sidechain operates as a separate blockchain that is parallel and connected to the XRP Ledger over the Axelar bridge, an interoperability protocol. XRPL's native token, XRP (XRP), will serve as the native gas token for the sidechain. The chain is designed specifically for developers, as they can now build and deploy their EVM-based applications, while accessing XRPL's network of over 6 million wallet holders, Ripple said. The sidechain is planned to eventually also integrate with Wormhole, another interoperability protocol, allowing even more developers to access the XRP ecosystem. Read more:
