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Former Ripple Executive Comments on XRP Price Chart

Fri, 12/09/2022 - 09:27
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Gamza Khanzadaev
Matt Hamilton on why XRP is on a par and even superior to Bitcoin
Former Ripple Executive Comments on XRP Price Chart
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Ripple's former director of developer relations, Matt Hamilton, gave his detailed view of the XRP price chart. Hamilton's review came in response to a Twitter user's surprise at how an asset whose chart looks like XRP's could be held for so long.

The former Ripple exec said that in the global picture, XRP's price chart is the same as that of Bitcoin. Responding to initial punditry about what drives people to hold funds in XRP, Hamilton said that these investors are primarily interested in the actual utility of this crypto asset, rather than the "ponzinomics" of something like BTC.

In addition, the developer corrected his opponent that both the community and the token are not related to Ripple, but only to XRP.

XRP Will Become Available for Purchases by Fiat in UK and France: Details

XRP price action

Let's leave aside arguments about ponzinomics and whose price action is better and turn directly to the XRP price charts.

As reported by U.Today, based on technical analysis alone, the XRP price is currently forming a global bull flag. A similar pattern emerged from July 2013 to March 2017, after which the XRP price rose 60,000% in just over a year.

XRP Price Demonstrates Bullish Behavior, Here's What Else Chart Hides

Also interesting in light of this news is XRP's chart against BTC, according to which the asset has been in a downward trend against the market's main cryptocurrency since 2017.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.