Ripple has been making headlines a lot lately due to its efforts to boost the XRP ecosystem and to push the mainstream adoption of the crypto XRP as well.
Ripple execs are long on Bitcoin
Now, it’s been revealed that Ripple CTO David Schwartz said that there is a pretty strong reason for which execs at Ripple said that they are long on BTC but they did not say the same thing about XRP.
In a few tweets, Schwartz said that the global regulatory uncertainty is preventing the company from predicting price action for the coin.
Global regulatory uncertainty. It should be enough just to be thoroughly honest, but unfortunately it isn’t.
— David Schwartz (@JoelKatz) May 20, 2020
Schwartz said that the company is acting out of huge caution – this is considering the massive stale in the crypto asset and in the light of the lawsuits that are claiming Ripple illegally sold XRP as an unregistered security.
No. I’m saying that’s why it’s harder for them to talk about their XRP holdings and opinions.
— David Schwartz (@JoelKatz) May 20, 2020
Schwartz began mining back in 2011 and he said that he sold a lot of his BTC portfolio.
I currently hold around 5% of the bitcoin that I once did.
— David Schwartz (@JoelKatz) May 20, 2020
Ripple’s XRP remittance volume rises
In other news, it’s been revealed the other day that Ripple’s XRP remittance volume is on the rise.
CEO of crypto exchange BTC Markets said that the company’s XRP remittance and trading volume is rising really quickly.
She said that Ripple’s ODL is revolutionizing financial transfers and trade settlements. She also said that it is showing in the exchange’s volume numbers.
In terms of pricing, at the moment of writing this article, XRP is trading in the red and the digital asset is currently priced at $0.193891.
