Digital resources are currently in chaos while prices are locked left and right in the middle. The fall began with Bitcoin (BTC) trading higher than $ 8,000, failing to find a stable support above $ 7,000 and plunging into $ 6,000. The decline, however, was not unique to Bitcoin, but concerned virtually all digital assets in the market, especially last week. Ripple XRP, for example, lost support at $ 0.45 and lost further life support at $ 0.30. At the time of writing this article, there seems to be a pullback above the $ 0.25 support while the price is changing hands to $ 0.26.
To say the least, investors are worried because early experts and cryptic enthusiasts thought that prices were falling as a result of the US Security Exchange Commission's decision to postpone the verdict on BTC's ETFs. However, it seems that the slide is catalyzed by something completely different, but what could it be?
In the meantime, I came across an interview that Ripple had Navin Gupta with Chin Wei Min at the Securities Commission Malaysia in April of this year. Gupta took time to discuss the XRP price and its relationship with technology developments. And perhaps this interview will bring some reassurance to investors and will help everyone focus on the future of the token.
While answering a question about where he sees the crypto industry and the digital asset in the next two or three years, Gupta has made it clear that Ripple is focusing on technology development. He added that (Ripple) are not distracted by the current price.
"We have to make sure that technology is in the state of art, we are building the ecosystem with banks, payment companies, exchange houses, with regulators to make sure that there is an enabling environment to be successful And then we'll work on the inter-ledger protocol so that our blockchain will be able to talk to other blockchains Since we are in this world, there will be many blockchains that will succeed in their own verticals or in their own horizontality and the thing fundamental is that they should be able to talk to each other. "
Gupta went on to say that the situation in the market is more or less in demand and supply and Ripple does not participate in price action. He, however, said the market is still young and that volatility is still high, but over time, digital resources will begin to experience stability. This stability will come with increased liquidity, institutional investors and products such as the introduction of futures and derivatives.
In the interview, Gupta also assured the community that XRP tokens will not be increased. However, Ripple has a certain amount of tokens, but there are 55 billion XRPs on these tokens. Tokens are released every month but if some tokens are not used, they are recalled to the deposit account.
The information related to these tokens, at the market price of XRP and other aspects observed by Ripple are usually published in a quarterly report.