David Schwartz, the former chief technology officer at Ripple and a creator of the XRP Ledger, recently pushed back against a widespread belief regarding the factors influencing XRP market value. Writing on the X social media platform, Schwartz stated that utilizing XRP as transaction gas is not a primary driver for the asset's price.
The remarks emerged amid ongoing discussions among community members concerning the token's recent price action and its role within the broader Ripple ecosystem. Schwartz pointed out that mass adoption of the XRP Ledger could add value to the cryptocurrency due to unique properties like its jurisdictionless nature, lack of counterparty risk, and its specific position in autobridging features. He previously noted that a successful ledger would likely allow XRP to capture a significant fraction of that created value, though he maintained that the ledger was originally built to serve as a fast, low-cost payment network with decentralized exchange capabilities rather than solely to drive up token prices.
Rising holder dissatisfaction accompanies these discussions, coming as the Ripple-related token recently traded near $1.09 following a decline of more than twelve percent over a seven-day period. Schwartz has also acknowledged that his own personal impact on the market price of the asset is minimal.