Ripple CTO Emeritus David Schwartz says the XRP price mostly follows the wider crypto market. His comments came as frustrated holders on X demanded answers from Ripples leadership.
Schwartz also rejected the idea that Ripple is hiding a secret plan for the token.
A user had called on Ripple CEO Brad Garlinghouse or Schwartz to address the anger in the XRP community and explain “the real plan.” In reply, Schwartz said Ripple talks about its plans constantly. “There‘s no secret plan we aren’t telling you about,” he wrote.
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What Moves the XRP Price, According to Schwartz
Another user then asked why XRP does not rise if Ripple rolls out its ledger worldwide alongside its RLUSD stablecoin.
In response, Schwartz said the XRP price is “largely dragged around by the market.” Developments specific to the XRP Ledger only play a secondary role, in his view.
The Ripple veteran also pointed to a 2023 post. There, he called this view his personal sense rather than something he could prove.
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Pressed on whether XRP needs a higher price to provide liquidity across the ledger, Schwartz agreed. “The higher the price, the better,” he wrote. According to Schwartz, a higher price would make liquidity more cost-effective and reduce slippage.
The frustration comes as XRP has lost more than half of its value over the past year.
XRP Monthly Price Chart. Source: BeInCrypto
Ripple has hit several milestones lately, including a national trust bank charter and an investment-grade rating for RLUSD.
Back on X, a third user argued that Ripple should find a heavier use case for XRP than paying network fees. Schwartz replied that no knowledgeable person has suggested XRPs use as gas would significantly drive its price.
Instead, he pointed to an earlier post on XRPs “privileged place on the ledger” as the only asset anyone can hold without a counterparty.
“I really do think its 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 wrote.
Ripple Expands Its Bank Business in Europe
Ripple, meanwhile, continues to expand its institutional business. The company said euro stablecoins have grown from about €50 million to €450 million since early 2024.
Qivalis, a consortium of 37 European banks now authorized by the Dutch central bank, plans to issue a euro stablecoin.
However, issuance is only part of the picture, according to Ripple:
Each bank still needs the custody, governance, and controls to hold the asset for clients.
The company says BBVA and DZ BANK already use Ripple Custody for this purpose. Banks across Europe are also building stablecoin infrastructure at scale.
Still, Schwartz expects the XRP price to track the broader market first. Garlinghouse, for his part, recently rejected rumors that Ripple is ditching XRP for RLUSD.