Ripple CTO David Schwartz has offered his own take on why one of the most popular cryptocurrencies, XRP, has been in the doldrums for so long.
Ripple CTO David Schwartz I believe The poor performance of XRP and other major cryptocurrencies is the result of uncertainty about whether cryptocurrencies will actually become the next big thing.
Using the example of Google in 2000, Schwartz compares how skeptical people were about how search engines would deliver billions of dollars worth of new wealth. He believes cryptocurrencies are in a similar situation.
As a result, prices often move together as investor sentiment rises and falls, depending on whether more people become convinced of crypto’s future potential. is still trying to find out if crypto will be the next big thing.”
Therefore, if the industry can convince people of the potential of cryptography by providing real-world use cases and a sufficient level of scalability, mass adoption of various cryptographic techniques can be successful.
at the same time, Schwartz I emphasized that this is his personal opinion, not backed up by facts or data. So feel free to disagree with him.
At press time XRP price It is down more than 90% from the record peak reached in early 2020.
