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As we speak, there is substantial controversy around the XRP cryptocurrency. Ripple, the fintech company behind the project owns the lion’s share of XRP, which has led to many in the crypto space saying the cryptocurrency is manipulated and not decentralized. Additionally, several vexed investors have taken legal action against the company alleging securities laws violations.
Nevertheless, the San Francisco company has insisted on the decentralized nature of its digital asset. It is also adamant that XRP will be adopted by leading banks and other financial institutions for international payments due to its high speed and near-zero costs.
Needless to say, Ripple executives are bullish about XRP. Former CEO and Ripple co-founder Chris Larsen, as well as the current CEO Brad Garlinghouse, own considerable amounts of the cryptocurrency. David Schwartz, who happens to be one of the original architects of the XRP ledger also holds XRP. However, despite owning a good amount of XRP, Schwartz (also Ripple’s chief technology officer), has invested in a few other cryptocurrencies as well. He revealed this during a recent Twitter exchange.
It all started when former US Congressional candidate, David Gokhshtein, asked his Twitter followers to list the worst cryptocurrencies they have ever invested in. David Schwartz noted that his worst crypto investment is Rustbits and he cannot even explain why he got some.
Another Twitter user asked the Ripple CTO whether he currently owns any cryptocurrency. In response, he revealed that XRP and Bitcoin (BTC) make up the majority of his cryptocurrency portfolio. Schwartz also holds small amounts of ethereum (ETH), Basic Attention Token (BAT), and minuscule amounts of other cryptos that he did not name.
Yes. I own XRP and BTC as well as small amounts of BAT and ETH, and very small amounts of a few others.
— David Schwartz (@JoelKatz) September 9, 2020
Is XRP Primed To Outshine Ethereum In The Coming Months?
Throughout the past weeks, the XRP price has been struggling below 25 cents. The cryptocurrency was even displaced by Tether once again and now holds the fourth spot on the crypto rankings.
In contrast, ethereum has been on a tear on the back of the burgeoning DeFi space. Meanwhile, a crypto analyst-cum-trader believes XRP will perform better than ethereum during the next monster bull run.
The analyst in question is Credible Crypto. He explained that his analysis is not based on fundamentals or his interest in XRP but rather on the charts. Credible Crypto shared the chart that can be seen below, attaching the following comment:
“People are starting to take notice. I’ll say it again- expect $XRP to outperform $ETH over the coming months. Has nothing to do with fundamentals or my affinity towards either coin- just the charts, plain and simple.”
