David Schwartz’s Tweet Stirs XRP Community as Token Sees 13% Price Jump

In a recent tweet, Ripple's Chief Technology Officer (CTO), David Schwartz, stirred discussions among XRP enthusiasts. The post was made shortly

Ripple’s CTO Hints at XRP ‘10x Times’ Potential With Cryptic Tweet

David Schwartz's recent tweet sparked speculation among XRP enthusiasts following a 13% price increase over the weekend. Schwartz posted an image of a product labeled “Pre-Mix Bubble Solution” that boasts of having “10x more bubbles,” highlighting the grammatical redundancy.

The XRP community quickly picked up on the use of the term “10x times,” with many speculating on its potential significance for the token. Some suggested that the tweet might indicate a price target of $10 for XRP, while others saw it as an open-ended remark. The timing of the tweet also coincided with an XRP price movement, further fueling speculation.

Meanwhile, blockchain tracker Whale Alert recorded two major XRP transactions on Saturday, each valued at around $200 million. The transactions, processed in the same minute, involved the transfer of 50 million XRP ($111.7 million) and 40 million XRP ($89.7 million). The recipients of these large XRP transfers remained undisclosed.

Whale Alert also noted multiple other large XRP transactions, including an XRP transaction of 182 million tokens valued at $411 million in fiat. These transactions highlight the activity on the XRP network, particularly among traders and investors in the market.

Crypto analyst Ali Martinez highlighted $2.20 as a crucial level for XRP, indicating that the token might find support at this level before attempting to cross the $2.70 barrier. However, if this level is not sustained, a drop to $1.96 is possible.

Notably, XRP has seen a gain of over 250% in the last three months alone. Well-known crypto trader EGRAG analyzed a scenario that could lead to a price surge to $8. This projection is based on the total market cap of the cryptocurrency market hitting $5 trillion.

At the time of writing, XRP has a market capitalization of $126 billion, accounting for 2% of the $3.36 trillion crypto market. According to EGRAG, XRP could regain its previous market dominance of 10% based on price predictions for 2017 and 2021.

The recent US election has also impacted Ripple's legal battle against the SEC, with analysts suggesting that the controversy could conclude as a new SEC chairperson, Paul Atkins, joins the scene. Such a resolution would be a turning point for XRP and the cryptocurrency market.

Since Donald Trump's victory in the recent election, the price of XRP has gone up by 300%. Several asset managers, including Bitwise, 21Shares, and WisdomTree, have applied for spot XRP ETFs to be launched following the election, indicating a strong interest in the asset. A positive decision in court would serve to bolster market confidence and further propel XRP's growth.