Ripple’s CTO Shares Bullish Ethereum Statement, What About XRP?

The crypto market is booming, and holders are showing excitement as leading cryptocurrencies project notable gains amid the ongoing price rally.

Ripple’s Chief Technology Officer, David Schwartz, is most excited about Ethereum’s price breakout, according to his latest post on X (formerly Twitter).

The post showed Schwartz celebrating Ethereum’s recent breakout, which saw it reclaim the long-anticipated $3,000 mark again on July 14. While XRP has also shown incredible price gains, reclaiming its 4-month high of $3, Schwartz appears to have been most impressed by Ethereum’s price performance instead.

Although Schwartz remained silent on XRP’s notable breakout, his celebration of Ethereum’s rebound has sparked mixed feelings among the XRP-Army, with commentators raising questions about his stance on XRP’s breakout. The majority of questions focused on his silence regarding XRP reclaiming $3 again.

These questions prompted Schwartz to emphasize crypto utility over speculation, highlighting the emotional side of crypto price movements and their impact on traders.

Schwartz explained that while he celebrated Ethereum’s massive price resurgence, he is generally excited about broad price rallies due to the emotional toll losses can have on people.

When asked further about his opinion on XRP’s price outlook, the Ripple executive disclosed his uncertainty about the extent to which prices should rise before they are considered “right.” Schwartz noted that price surges often don’t correlate with positive developments like solving real-world problems.

XRP achieves $3 breakout

The massive rally experienced across the crypto market in recent days has seen XRP achieve a major breakthrough, breaking out of a symmetrical triangle and finally reaching the $3 mark after about four months.

Analysts have predicted that XRP’s recent breakout from the symmetrical triangle pattern—one it has frequented since 2018—could trigger a continued upward trajectory for the third-largest cryptocurrency by market capitalization.

This has raised investor optimism, with a massive $4 level in view for the leading altcoin. Nonetheless, the rapid price surge that saw the token reclaim $3 during the early hours of Monday has sparked increased interest from both retail and institutional investors.

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