- Recently, there has been a lot of discussion about the potential gambling aspect of XRP. “put to bed” David Schwartz, CTO.
- He admits that XRP, like all other cryptos, is not a lottery ticket. However he thinks there could be a significant increase.
Bitcoin’s price has surged to new highs during the pre-halving rally. Ripple’s XRP is barely showing any sign of appreciation, as the market data shows a decline in XRP every week. 5%, Trading at $0.60. This is a surprising decline from $0.65 reported by Crypto News Flash A few days ago.
Many people consider accumulating digital assets to be a risky gamble. Investors are frustrated by the difficulty of returning to the top after the legal battle with the US Securities and Exchange Commission. Others remain optimistic and see it as a lottery that could bring in a lot of money. financial windfall.
Speaking on thisDavid Schwartz, Chief Technology Officer (CTO), Ripple clarified that XRP was just like any other cryptocurrency and not a lottery ticket. He did admit that there was a possibility of a large, sudden increase.
Like most cryptos I see it as an asset that is volatile and its holders hope to see a trend upwards in the future. I don’t think of it like a lottery ticket that has a chance to increase suddenly, even though this is true in some cases.
Is XRPL AMM Activation a source of passive income?
The XRP Community has also had to deal with the discussion surrounding the potential passive income of the recent XRP Ledger Automated Market Makers (AMMs) activation. In order to clarify, an X-page explained that the majority of these posts are intended to take advantage inexperienced XRP Community members.
XRP AMM, as you can see from this post, does not pay a dividend for the asset. Holders would instead have to interact and provide liquidity. Further, by giving XRP to the AMM or any other tokens issued it is available for swappers to buy or sell.
A user named identified as commented on this post. “ShitCoinMillionaire” I asked if it still qualifies as passive income. Schwartz, who appeared to give an affirmative response, explained that the method of operation is different from staking.
It is possible, but it’s different from other things like stake. You can get passive income with XRP through the AMM by trading your XRP against claims on the AMM pools. You can claim XRP at any time, but you may not get back as much as you invested.
Growing Concerns about the XRP Escrows
Concerns have also grown over the periodic release XRP of escrow account on the first day of each month. Activists have accused this programmatic sales of price manipulating, and are calling for the burning XRP escrows. At the moment, over 40.708 billion dollars worth of XRP are in escrow.
Schwartz reacted to this and explained that it is possible to burn escrows. “blackholing.” He said that Ripple could unilaterally decide to make these escrow account XRPs unusable, preventing them from being circulated. Schwartz, however, did not reveal whether Ripple was going to take this decision.
Edward Farina and Versan Aljarrah, founder of Black Swan Capitalist, had a comprehensive discussion about the XRP escrow between them. This was highlighted Crypto News Flash
By the time this article was published, XRP’s market cap had fallen by 2.6% The asset value has dropped by $33,28 billion. The asset value also decreased by 3.5% From year to date
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: www.crypto-news-flash.com