Ripple CTO David Schwartz expresses enthusiasm about the XRP price surge, but suggested that the price does not showcase its actual value and utility.
With the prices of major cryptocurrencies skyrocketing since last week, Schwartz took to X to share his outlook on Ethereum. Commenting on Ethereum’s surge above $3,000, the Ripple CTO said he was pleased to see ETH climb above that level again.
His commentary on Ethereum’s price action sparked reactions among XRP proponents. Specifically, EasyA co-founder Dom Kwok asked Schwartz about his view on XRP, given that the asset also saw massive gains that pushed it above the $3 mark.
Schwartz Comments on XRP Above $3
In response, Schwartz remarked that he is always delighted to see the prices of crypto assets like XRP soar, as it means holders are not sitting on losses.
However, he expressed skepticism about how much focus should be placed on price. According to him, price actions do not necessarily correlate with the ability to solve real-world problems.
I always feel good when prices are high because I hate to think that people are losing money. But I'm truly not sure how much focus on price is the right amount, especially since price doesn't seem to correlate very much with other good things like solving real-world problems.
— David 'JoelKatz' Schwartz (@JoelKatz) July 14, 2025
In a follow-up post, Schwartz asserted that XRP’s current price does not reflect its true value, utility, or ability to solve real-world problems in the short term. Nonetheless, he stated that there is a possibility the price may reflect those fundamentals over the long term.
Price Suppression Theories
Schwartz’s remarks echo a common view among XRP supporters that its market price is significantly lower than its utility.
Notably, several financial institutions, including SBI Holdings and Santander Bank, have leveraged XRP for instant and low-cost cross-border settlements. Despite this adoption, many argue that XRP’s price remains far below its true value.
This has led to claims that the price is being suppressed to frustrate retail investors into selling their XRP tokens to institutions. Notably, Schwartz has consistently refuted these suppression theories, particularly those related to Ripple’s monthly XRP sales.
XRP Plunges Below $3 Amid Broader Market Pullback
Meanwhile, XRP recently benefited from the latest Bitcoin rally, with its price crossing the $3 mark yesterday. The last time XRP traded around the $3 level was February 1, 2025.
Shortly after reclaiming $3 yesterday, XRP slumped below that level and is currently trading at $2.87. XRP’s recent dip coincides with a broader market downturn. The prices of assets like Bitcoin and Ethereum are also dipping.
In the meantime, while XRP’s price is down 1.87% in the past day, the token remains up by 27% over the past week.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
