XRP News Today: Ripple CTO Praises Ethereum Surge Amid XRP’s 33% Rally

Ripple’s Chief Technology Officer, David Schwartz, has drawn attention from the cryptocurrency community after expressing his enthusiasm for Ethereum’s recent price surge to $3,000. In a post on X (formerly Twitter), Schwartz celebrated Ethereum’s achievement, stating, “It’s nice to see ETH over $3,000 again.”

However, Schwartz’s post was met with mixed reactions from XRP holders, as he did not mention XRP’s own significant milestone of crossing the $3 mark for the first time in four months. This omission did not go unnoticed by community members, who were quick to point out the discrepancy.

When Dom Kwok, co-founder of EasyA, responded to Schwartz’s post by asking, “How about $XRP crossing $3,” the Ripple executive provided a more general take on price activity. “I always feel good when prices are high because I hate to think that people are losing money,” Schwartz replied. He added, “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.”

On the same day as Schwartz’s post, XRP experienced a strong rally, briefly touching $3 before losing momentum. The price action represented a breakout of a relative symmetrical triangle that XRP had been forming since 2018. Analysts perceived the breakout as a possible indicator of successful gains, and the projections indicated a potential break to the $4 level. Nevertheless, the speedy rectification has dialed down expectations in the short term.

Despite the pullback, XRP maintained a substantial 24-hour trading volume, showing continued market interest. At the moment, XRP has a market capitalization, the third-largest market cap of all cryptocurrencies. Even after the recent correction, investors remain long-term optimistic about XRP.

Schwartz’s celebration of Ethereum’s performance while staying quiet on XRP’s $3 breakout has led to renewed discussions within the community. As XRP retraces to $2.85 following its brief surge, traders are watching closely for signs of continued momentum or further consolidation.