Ripple has been making headlines due to the massive efforts that the firm has been making to boost the XRP ecosystem and to push the mainstream adoption of the digital asset XRP.

Crypto prices are not the products of whale manipulation

Ripple chief technology officer David Schwartz thinks the market prices of XRP and other cryptos are true reflections of the public’s confidence, not the products of whale manipulation.

It’s important to note that Schwartz is one of the founding architects of the XRP Ledger.

He recently posted on his Twitter account that he’d rather not think about the fact that the price of XRP is the correct value of the asset.

But the basic logic of fair markets says otherwise, according to him.

“I honestly believe (crazy as it sounds) that cryptocurrency prices generally do reflect the wisdom of crowds and a fair assessment of the expected future. I am way in the minority on this view and of course I could well be wrong. But that’s what I truly believe,” he said.

He continued and said: “My logic is simply that if the price really were ‘obviously too low’ or ‘obviously too high,’ enough wealthy people would buy or sell to push the price into a reasonable assessment of value.”

Here’s what he said regarding the price of XRP:

He said that he talked about his views to a lot of people in the industry.

At the moment of writing this article, XRP is trading in the green and the coin is priced at $0.195740.

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