Ripple’s technology chief David Schwartz encountered backlash from XRP investors after updating the community about the XRP price on X on November 4. His response followed details he had shared on network activity.
Schwartz posts daily XRP price update
Schwartz reported his hub was managing over 550 active connections, handling approximately 110,000 messages per second, with round-trip response times close to 200 milliseconds. When asked by user @thefitappa to provide an XRP price, he responded that XRP was trading at about $1.31, reflecting a 2.4% increase over the previous day.
Schwartz quoted XRP near $1.31, noting a 2.4% gain within 24 hours, though his comment referenced only short-term price action without addressing broader market trends.
Several community members quickly criticized the focus on a one-day gain, pointing instead to the token’s longer-term performance. Some users expressed frustration that daily increases did not compensate for years of stagnant or negative returns.
Investors highlight losses despite network growth
Ripple is a US-based blockchain company known for developing the XRP Ledger, a fast and scalable digital payments network.
Investor Hugh Jaynis, participating as @TheRealWillWest, claimed he purchased XRP at more than $2 in 2017, pointing out the price remains well below his entry point. According to his statement, XRP has lost around 40% year-on-year. Another user, @RafalDziuba88, described Schwartz’s answer as disrespectful, while @HenrySpect suggested the reply ran contrary to holders’ expectations for transparency.
Further user comments questioned the link between network growth and token price, with some noting that high transaction speeds and increasing network activity had not coincided with stronger market performance for XRP.
Mini dictionary: XRP Ledger (XRPL) is a decentralized blockchain specializing in fast and low-cost international transactions. Ripple, the company developing XRPL, aims to facilitate real-time global payments for enterprises and individuals.
Recent activity and XRP supply trends
In the third quarter, the supply of stablecoins on the XRP Ledger surpassed $1 billion, as reported by Blockonomi. However, analysts noted that greater on-chain activity does not always lead to significant new purchases of XRP tokens. Schwartz’s statistics described the hub he manages, not the entire XRP Ledger network, and he did not claim that growth in network connections would directly increase the token’s value.
On November 5, XRP exchange outflows climbed to 13.24 million tokens. Data cited in market reports indicated that large investors accumulated approximately 60 million XRP during the previous week.
| Date | XRP Exchange Outflows | Large Holder Accumulation |
|---|---|---|
| Early November 5 | 13.24 million | 60 million (weekly) |
Some holders maintain long-term outlook
Despite widespread criticism, some users expressed continued confidence in XRP’s long-term potential. Jason Barritt posted that he regularly buys XRP with every paycheck and is prepared to wait another two or three years for the so-called Internet of Value to be established. Barritt emphasized he would rather accumulate at $1.30 than wait until prices are substantially higher.
Barritt suggested that ongoing development in the XRP ecosystem could require years before material gains, and he is content to steadily increase his holdings in anticipation.
Earlier in November, reports showed XRP holding support around $1.23 as aggregate reserves dropped at three major exchanges. Nonetheless, Schwartz did not offer any future price predictions when responding to the holder’s question on X, keeping his remarks strictly about the day’s price change.
