CandleFocus Ripple CTO Breaks Down XRP Valuation Linked to Payments
2024-09-21
Author: Content Editor
Ripple's Chief Technology Officer (CTO) recently discussed the use of cryptocurrencies, specifically XRP, in payments. He stated that despite XRP's wide availability, low fees, and fast confirmations, it is not being utilized more for payments due to the same reasons other cryptocurrencies are not being used. The CTO also mentioned that lower prices for XRP could actually make payments more expensive, as buying and selling the same value of XRP could move the market against the user. He further explained that stablecoins may face similar challenges as cryptocurrencies in gaining traction in payments. Additionally, the CTO addressed claims of price manipulation and the circulating supply of XRP, expressing openness to suggestions for supporting developers and acknowledging limited alternatives. Currently, XRP is trading at $0.586, with a 0.66% increase in the last 24 hours.
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