Ripple CTO Sparks Heated XRP Price Discussion: ‘10x Times’

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As a seasoned analyst with over two decades of experience in the financial markets, I have seen countless instances where a simple tweet can spark a frenzy within the cryptocurrency community. David Schwartz’s recent tweet about XRP‘s potential for a 10x increase is no exception. While the tautology in his tweet might be a red herring, it has certainly ignited discussions about the future prospects of XRP’s price.

David Schwartz, the Chief Technology Officer at Ripple, posted a tweet that sparked conversation among members of the XRP community. Enthusiasts of cryptocurrency started debating the possibility of an upcoming surge in XRP’s value.

Over the past weekend, I witnessed a nearly 13% surge in the value of XRP, currently the fourth-largest cryptocurrency by market cap. Quite an exciting development for any crypto investor!

Ripple CTO tweets: “10x times”

David Schwartz posted a picture of a pre-mixed bubble solution can claiming “10x more bubbles.” The Ripple CTO highlighted the redundancy in the phrase and suggested a clearer version, such as simply “10x” or “10 times,” to emphasize a tenfold increase.

10$ $XRP

— CRYPTO MILLIONAIR3 (@Cryptojm3_666) December 23, 2024

In response to Schwartz’s tweet, members of the XRP community started a conversation speculating if his statement could imply a possible price target of $10 for XRP, or where the value of XRP might reach if it experiences a tenfold increase.

Ripple shovels 90 million XRP over weekend

This past weekend, the Whale Alert blockchain tracker, which keeps an eye on significant cryptocurrency transactions, detected two substantial XRP transfers. Approximately 200 million dollars’ worth of XRP was moved by the San Francisco-based Ripple, a leading company in the blockchain industry.

50 million and 40 million units of XRP, worth approximately $111.7 million and $89.7 million respectively, were sent from Ripple to unidentified cryptocurrency wallets.

As a researcher observing the cryptocurrency market, I noticed an interesting pattern: Two significant transactions involving XRP were executed within a span of one minute. Interestingly, just before that, Whale Alert had flagged three large XRP transfers over the weekend, amounting to approximately 182 million XRP in total. These were broken down into three parts: 99,999,977 XRP, 52,765,919 XRP, and 30,000,000 XRP. When converted to fiat currency, the combined value of these XRP chunks was roughly $411 billion.

XRP needs to break above $2.20, analyst claims

As a crypto enthusiast myself, I’ve been keeping a close eye on the market, and I can tell you from my personal analysis that the significant price point for XRP at the moment seems to be around $2.20. This insight comes from my regular study of charts and price trends on my account.

The analyst expects XRP to consolidate there before attempting to surge towards the $2.70 resistance. Still, he added, if XRP loses this $2.20 support, the coin is likely to drop to the $1.96 price level.

At the time of writing this article, XPR is changing hands at $2.20, trading sideways.

Last week, XRP experienced a hard fall, losing almost 28% and declining from $2.71 to $1.96.

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2024-12-23 15:22