From Coinpedia · By Rizwan Ansari
Story HighlightsRipple CTO David Schwartz tells frustrated XRP holders there is “no secret plan” to push prices higher.
Schwartz says successful XRPL adoption should allow XRP to capture meaningful value.
XRP has fallen more than 12% in one week, while XRP ETF recored over $10 million outflow on 9 November..
XRP holders are getting frustrated with the token’s weak price performance, as XRP fell to $1.07, its lowest price since August, losing 12% in a week. Bitcoin is down 3% over the same period, while Ethereum and Solana have fallen 6% and 7%, respectively.
Advertisement With XRP falling harder, holders are asking for answers. Meanwhile, Ripple CTO David Schwartz says there is “no secret plan” to push the price higher.
XRP Holders Demand Answers as Price Struggles
XRP is trading around $1.08 after falling 37.06% from its mid-August high of $1.70. The recent drop comes as demand for the token continues to weaken.
Spot XRP ETFs recorded $10.42 million in outflows on November 9. Activity was also weak last week, with no inflows and only one day of outflows worth $529,000 on November 2. That lack of institutional buying left sellers with less resistance.
The decline has added pressure on the XRP community.
One XRP community member called on Ripple CEO Brad Garlinghouse and CTO David Schwartz to explain their real plans and whether long-time holders can expect any reward for their loyalty.
David Schwartz responded directly, saying,
“I’m not sure what you think we haven’t already told you. We talk about our plans constantly. There’s no secret plan we aren’t telling you about.”
Schwartz further said that XRP’s price is largely dragged around by the market, and very little affected by things related to XRPL.
Schwartz Says XRP Should Capture XRPL’s Success
The discussion then moved to a bigger question, that whether XRP is simply being used to support Ripple’s business without giving XRP holders enough benefit.
Schwartz rejected the idea that using XRP to pay transaction fees would be enough to push its price higher.
“I don’t think anyone knowledgeable has suggested that XRP’s use as gas would be a significant driver of the price of XRP.”
But Schwartz also argued that XRP should benefit if the XRP Ledger succeeds.
“I really do think it’s hard to believe we will end up in a world where XRPL is successful, but XRP fails to capture a good fraction of that value.”
Schwartz said that the token’s value will depend on how much the XRPL network grows and how widely it is used.
Higher XRP Price Could Improve Liquidity
Schwartz also explained why a higher XRP price would be useful for large transactions.