Category: Forex News

Ripple CTO’s Cryptic Tweet Mystifies XRP Community

By Published On: March 23, 20242.4 min readViews: 1640 Comments on Ripple CTO’s Cryptic Tweet Mystifies XRP Community
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Ripple’s chief technology officer and one of the XRP Ledger creators David Schwartz has taken to the X social media network (formerly Twitter) to publish a cryptic tweet. It was a math problem that ultimately equaled 5.

Does Ripple CTO’s tweet hint at future XRP price?

This tweet by Schwartz triggered an enthusiastic response from multiple X/Twitter accounts. The response given to a lot of commentators by the top Ripple executive was “5,” and many XRP enthusiasts preferred to interpret this as Schwartz making a prediction about the XRP price reaching $5 in the future. Perhaps it will once Ripple manages to ultimately win the case against the SEC.

When, last year, a major victory in this legal case was obtained and Federal Jjudge Analisa Torres made a ruling that XRP sales on secondary markets do not qualify as sales of securities, XRP soared to the $0.71 level briefly.

In the same year, the SEC lost another major case; that one had been initiated by Grayscale to compel the regulator to give serious attention to its filing about converting its Bitcoin Trust into a spot Bitcoin ETF. This wish was granted on Jan. 11 this year, when Grayscale’s spot ETF was approved along with 10 others, including those issued by BlackRock, Ark Invest and Fidelity.

As of this writing, XRP proudly holds the position of the sixth largest cryptocurrency in terms of market capitalization value and is exchanging hands at $0.63214. Over the last 24 hours, the price demonstrated 6.05% growth; however, it was quickly reduced to 4.91% by the decline that followed.

David Schwartz develops trading bot

In a tweet issued on March 21, the Ripple CTO informed the cryptocurrency community that he had successfully completed the development of a new bot for trading on centralized crypto exchanges.

David Schwartz revealed that the bot operates using an algorithm that is similar to the one on which the XRP Ledger’s AMM runs.

For now, according to Schwartz, the bot is “really rough,” but he is considering adding a GitLab link. The software engineer pointed out that it is too early to tell whether this bot is going to bring high profits. For the time being, he expects he would be able to make approximately 11% per year.

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