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XRPL Pioneer Reveals Groundbreaking Trading Approach

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One of the original developers of the XRPL and current Ripple CTO, David Schwartz, has revealed a novel trading method used by the brand-new XRPL Automated Market Maker [AMM].

The ledger’s AMM, which was introduced earlier this year, sparked community discussion about several of its core features. One of which includes ‘Continuous auctions’.

Two things are occurring, according to Schwartz. Selling “arbitrage slots” for LP tokens is how the auction process works. The number of assets the pool’s current LP tokens represent increases as a result of the destruction of those LP tokens.

The pool charges a spread when it offers liquidity while also carrying out a trading strategy. As a result, the pools grow in size, increasing the value that each LP token can be swapped for.

He also disclosed that a volatility harvesting approach is used in the trading process. It purchases when prices are low and sells when they are high and works similarly to multi-exchange strategies to arbitrage price differences over space.

When asked if it could be used in the stock market, Schwartz said that he had run some simulations and found that it performed remarkably well for stocks with high volatility.

But when confronted with persistent trends, he observed, its performance suffers. “The more of a consistent trend you put in, the less well it does”, he added.

Unlike a typical market maker, AMMs employ smart contracts to define the price of digital assets and provide liquidity and are known as Liquidity Pools.

Any entity can become a liquidity provider as long as it meets the requirements encoded into the smart contract.

XRPL’s Unique AMM Features

During large orders in AMMs, a large number of tokens are removed or added to a pool, creating huge discrepancies between the asset’s price in the pool and its market price, thus providing an arbitrage opportunity. 

Here the price difference allows a trader to buy and sell an asset in different markets to generate a profit.

In July last year, blockchain firm Ripple announced a Uniswap-rivalling AMM named the 0030 XLS-30d, on the XRPL network, which was touted to bring enormous DeFi potential to the blockchain.

Here’s What Ripple CTO Has To Say About ‘The Movie Line’

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Ripple hits the headlines yet again. A logline—a condensed form of the emotional and logical core of a potential movie film about a cryptocurrency company—written by ChatGPT at the request of Ripple CTO David Schwartz has been made public. Schwartz condensed the entire gist into a single statement with the aid of artificial intelligence.

The blockchain creator has named the movie “Ripple, The Movie,” and it contains the following basic plot,

“When a scrappy financial startup takes on a web of corruption and betrayal to bring instant payments to the masses, they learn that the cost of disrupting the status quo is higher than they could  ever have imagined, forcing them to decide between their vision and their survival.”

As you can see, “Ripple, The Movie” revolves around the tale of the business’ legal conflict with the SEC, and more particularly, ETHGate. According to ETHGate, which was first reported by U.Today, organizations connected to Ethereum have to resort to working with regulators like the SEC to thwart rivals. As a result, XRP is thought to have lost ground against ETH in the cryptocurrency market.

The logline does not make it obvious that ChatGPT refers to Ripple as a scruffy start-up. According to the most recent news and reports, the company is performing well and hardly qualifies as that. In this sense, it’s possible that the artificial intelligence aimed to add drama to the narrative and portray Ripple as a sort of David taking on the corrupted regulatory Goliath.

Ripple’s XRP Shows Bullish Signs

In March 2023, Ripple’s native token is trading sideways and has spent the previous ten days around the $0.37 level. XRP is attempting to climb over its $0.40 resistance level but is failing to do so. Given that investor shorting of XRP has dropped to an all-time low, according to statistics from the Bitfinex platform, the cryptocurrency may soon reach $0.40.

Mr. Huber, a proponent of cryptocurrencies and XRP, tweeted that short positions in XRP/USD had reached an all-time low. Want some encouraging news? For the first time ever since they started, XRP shorts just reached an all-time low,” he tweeted.

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The new information shows that XRP may be able to increase in value without being constrained by “shorting,” which might cause its price to fall. The information, however, is limited to the Bitfinex bitcoin trading platform, making it unable to verify it on other exchanges.


Ripple CTO’s Heated Face Off With BTC SV Supporter

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Ripple seems to have been in the news now and then. Sometimes for the right reasons and sometimes for the SEC’s perceived wrong reasons. Yet again, the right and wrong notions of this news are left to the public’s judgment.

Ripple CTO David Schwartz and Bitcoin SV advocate Jerry David Chan recently got into a heated argument on Twitter concerning the accountability of Bitcoin developers.

How The Ripple- BTC SV Debate Began

The debate was sparked by litigation filed by self-described Satoshi Craig Wright against well-known Bitcoiners, which the U.K. Court of Appeals recently found to have strong validity.

Chan said that lawyers should have been contacted before creating the Bitcoin program and that ignorance is not a defense when handling billions of dollars through software. On the other hand, Schwartz argued that the engineers were only defending the code they created through an open and public discussion and that the idea of holding them accountable for participating in a contentious fight was “complete nonsense.”

Schwartz, Ripple CTO, tweeted,

“What you are arguing caused people to be locked out or lose funds is the outcome of a public debate over what code bitcoin nodes should run. This is an attempt to impose liability on people for making particular arguments to the public on an important issue.”

Wright’s lawsuit derives from his assertion that he lost billions of dollars worth of Bitcoin in the Mt. Gox hack and asserts that the developers owe him fiduciary duties under English law. The legal battle has sparked debate regarding the function of judicial decisions and public discourse in the growth of the blockchain community.

Wright’s attempt to utilize the legal system to compel developers to support his cause has been dubbed “vile” and “grotesque” by the Ripple CTO. The case is anticipated to be a significant development in the blockchain ecosystem and might have significant effects on future developer duties.

At the time of writing, XRP was priced at $0.401006 with a hike of 1.0% over the last 24 hours.

XRP’s Value Might Touch Million In 7 Years, Expert Predicts

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In a stunning claim, Reaper CEO Patrick L. Riley predicted that XRP might be worth a million dollars by 2030. The tweet made reference to Ark’s Cathie Wood’s Bitcoin price prediction in answer to a user’s query about what would be worth $1 million in 2030.

Riley who heads the Austin Texas-based Blockchain Financial firm has caught everyone’s attention with the bold claim. Typically, XRP’s price estimation has reached the $1,000 mark, sometimes five digits, or even as high as $600k.

Interestingly Reaper Financial joined the lawsuit by filing an amicus brief in support of Ripple.

That said, the $1 million forecast might look far-fetched as it is roughly a 4,200% increase from Bitcoin’s current level of $22,901.

This meant that XRP would have to rally nearly 400 million percent from its current price of $0.39 to attain the $1 million mark.

Currently, Ripple is embroiled in a legal battle with the SEC, for the alleged sale of $1.3 billion worth of XRP as an unregistered security offering.

The outcome, many believe would provide much-needed clarity to the crypto industry and in return impact the token’s price.

In a recent tweet, Ripple CTO David Schwartz spoke out about the XRP buyback proposal that was first raised in 2021 and has now resurfaced again but this time with a newer version.

Jimmy Vallee, CEO of Valhil Capital, brought up the contentious concept once more, sparking a new round of frenzied discussion on Twitter.

XRP Buyback Proposal Gets A Thumbs Down Fron Ripple CTO

The theory predicts that XRP will overtake USD as the world’s reserve currency when global government debt soars, all banks migrate to ISO 20022, and the token would be used for international financial transactions.

Governments all across the world would therefore be required to purchase huge quantities of XRP.

Schwartz, though, gives the XRP buyback idea a negative review. On the surface, it appears to be fraud, according to Schwartz. The Ripple CTO admitted he hadn’t given the hypothesis much thought, but he compared it to the scams that occurred in 2012 and 2022.

“I haven’t looked at it very closely. But what I have seen looks an awful lot like a scam to me. If we’ve learned anything from 2012 and 2022 it’s that anyone promising high returns with low risk is almost certainly going to rob you,” Schwartz said.

Here’s how Ripple CTO Congratulated Elon Musk Over His Victory

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The chief technology officer of the massive Ripple Labs, who has recently been highly active on Twitter, not just on cryptocurrency subjects, issued a tweet that appears to be a congratulations to Elon Musk. The jury in the case brought by the SEC against Musk in 2018 as a result of his “420” Tesla tweet found the tech tycoon not guilty. However, the Ripple CTO’s tweet focuses on XRP rather than Tesla. Schwartz cautions that this tweet is a prank just in case.

Elon Musk received a significant victory after a jury dismissed investor charges that he broke the law when he tweeted in 2018 about possibly taking Tesla Inc. private.

After about two hours of discussion, the nine-person jury reached a decision on Friday afternoon, concluding that the investors who had filed the class-action lawsuit had failed to establish their claims against Mr. Musk or the electric vehicle firm he leads.

Mr. Musk, who had earlier attended court to hear the parties’ closing arguments, was not there when the decision was announced. Later, he tweeted his gratitude for the jury’s unanimous verdict and said,

“Thank goodness, the wisdom of the people has prevailed!”

The issue is related to the Tesla CEO’s tweets from more than four years ago that suggested selling the business.

Before this case got to trial, U.S. District Judge Edward Chen had previously determined that certain of Mr. Musk’s claims about possibly taking the business private were untrue and that the CEO had acted recklessly in making them.

Among other things, jurors were required to evaluate whether Mr. Musk’s tweets were relevant to investors and whether the misrepresentations resulted in damages for investors.

The jury’s foreperson, Robin Cadogan, declared that he wasn’t persuaded by the claims that the tweets were relevant. After the verdict was read, it was reported that Cadogan told the attorneys,

“The overall message, it just didn’t land. There was nothing there to give me an ‘aha’ moment.”

Significant Victory To Ripple’s Ally Over SEC

Ripple’s David Schwartz tweeted his own satirical congratulations to Musk “At $420, I’m buying XRP private. funding arranged.”

It’s important to note that the American securities regulator has started to focus on both Elon Musk and Ripple. In December 2020, the government filed a lawsuit against the San Francisco-based fintech company, charging that it and its co-founder and CEO made billions of dollars selling unregistered securities like XRP to institutional investors.

Now that Elon Musk has been found not guilty in the SEC case, the cryptocurrency community anticipates that Ripple will triumph in court against the securities regulator this year as well.

Ripple CTO Takes A Dig At Flare Network: “You Lose Nothing”

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Ripple’s chief technology officer, David Schwartz, recently voiced his disapproval of Flare’s much-publicized airdrop on Twitter.

Schwartz pointed out in a five-tweet thread that there is now no incentive to store FLR tokens and wait to receive airdrops under the existing rules. Schwartz contends that since anyone who purchases Flare tokens can wrap them and receive the airdrop, holders have nothing to lose by selling right away.

He claims that the new regulations constitute “a very strange decision” and that Flare appears to have tried “to only give 15% of what they promised.”

Flare Grows At The Cost Of Ripple’s XRP Community

Schwartz added that Flare initially strengthened its commitment to the XRP community when it thought it no longer required its members before using the community to develop. The Ripple CTO softened his tone and emphasized that his statement was not meant to disparage Flare Networks when he closed the Twitter chat. However, this does not imply that they are dishonest or that their project is flawed. Some of the early “promises” made by Ripple’s XRP were broken as the technology developed.

Schwartz further said,

“You can love Flare and love XRP too. It’s not one or the other. But I don’t have happy fuzzy feelings about how it went down.”

Early this week, the long-awaited Flare Network airdrop to XRP holders finally happened as a result of key exchanges announcing their support.

The Flare token IOU on the Bitrue exchange has decreased by more than 64% in the previous 24 hours, according to an image shared by XRP fan Bill Morgan.

The FLR/USDT pair on Bitrue has experienced a significant dump in the last two days, as can be seen on the TradingView chart. On Jan. 9, the token saw a flash crash and hit a low of $0.15 before rebounding to trade at $0.30 today. It is still down 33.24% as of the time of publication, a substantial amount from the $0.53 high set on January 8.

The first exchange to allow trading of FLR-pegged IOUs was Bitrue. In less than 15 hours, “real” FLR tokens will be released.

XRPL’s New Proposal Receives Overwhelming Majority: Details

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XRPL’s latest amendment has just reached a consensus of 82.35%, through voting that will last another two weeks, until Jan. 17. So far, 27 out of 34 validators have cast their votes, data from XRP Scan revealed.

An amendment in question is called CheckCashMakesTrustLine which if enabled, will automatically create a trust line to hold the token, similar to how purchasing a token in the decentralized exchange creates a trust line to hold the token.

Trust lines are structures in the XRP Ledger for holding tokens that enforces the ledger’s rule that a user cannot cause someone else to hold a token they don’t want. 

XRPL co-developer and current CTO of Ripple, David Schwartz has recently doubled down, on the unique advancements in payment technology with its roots tracing back to 2012 before the existence of several cryptocurrencies.

According to the top exec, XRP Ledger pioneered a consensus protocol, that was unique to any digital asset that came before it. Payment processing is one of the primary functions of XRP Ledger.

It is important to note at this point that Ripple is a firm that develops software, crypto solutions, and payment infrastructure for companies and organizations.

The native coin of the open-source, decentralized blockchain technology known as XRP Ledger, is called XRP.

Schwartz claimed that since 2012, XRPL has had a CLOB with cross-currency and cross-asset payments that utilize several channels for liquidity, supported by proof from a GitHub document.

A decentralized exchange that makes use of an order book is known as a central limit order book [CLOB]. It matches every offer and bid based on priority and price.

NFT Trade Volume On XRPL Has Top 10M

Cross-currency transactions that trade XRP, tokens or both are supported on XRPL and are fully atomic, meaning that either the entire transaction completes or not at all.

On the other hand, the ledger has tapped a new feat.

Only two months following the release of XLS-20, which added capability for NFTs on the blockchain, The XRP Ledger [XRPL] has recorded over 10 million XRP [$3.5 million+] in NFT transaction activity. This accomplishment highlights the rising adoption rate that the NFT scene at XRPL is attracting.

According to statistics from Bithomp, 69,448 NFTs for a total of 10,240,249 XRP [$3.5M at current pricing] has been sold on the network. In a tweet on Friday, Bithomp praised the accomplishment. Nearly 200K additional XRP sales have been registered since the tweet.

Ripple CTO slams ETH Creator’s Ignorance Of XRP and Ripple Difference

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Vitalik Buterin, the architect of Ethereum, has come under fire from Ripple CTO David Schwartz for misrepresenting Ripple and XRP. Buterin was criticized by Schwartz for either not knowing or feigning ignorance of the distinction between Ripple and XRP.

Vitalik Buterin, a co-founder of Ethereum (ETH), was the most recent visitor on Bankless. David Hoffman, a co-owner of Bankless, first urged Buterin to consider the previous year and all the lessons discovered in 2022. Buterin retorted that 2022 would be a challenging year. And it was, in fact.

The 28-year-old programmer acknowledges that there were a number of unpleasant “blowups,” but feels it is important to focus on the positives. Buterin lists the “merge” of Ethereum as one of the benefits of 2022. The community spent a long time preparing the network to switch to a Proof-of-Stake (PoS) consensus paradigm. Buterin emphasized how the switch cut Ethereum’s energy use by 99.9%.

Buterin also mentioned that zkEVM’s year was 2022. Many zkEVM projects are predicting mainnet debut by the end of the year, which is no longer simply a “pipe dream.”

But even without including cryptocurrency, 2022 has not been a particularly wonderful year for the banking industry. Nearly 60% of the value of ETH has been lost so far this year. The “merge” was a technological success, but it had minimal impact on the price movement of ETH. Many referred to the action as a “sell the news” instead.

Buterin’s Comments On Ripple Hectors Situation

The Ethereum creator said on the Bankless podcast,

“XRP has not apologized for claiming that Bitcoin and Ethereum are Chinese-controlled.”

To which Schwartz reacted by saying,

“All this time, and he still doesn’t understand, or is pretending not to understand, that Ripple is a company and XRP is a digital asset, He thinks XRP can say things.”

Despite the extensive history of the project, many people are still unsure of the connection between Ripple and XRP. For corporations and organizations, Ripple is a company that develops software, crypto solutions, and a payments infrastructure. The native coin of the open-source, decentralized blockchain technology known as XRP Ledger (XRPL), is called XRP.

The creator of Ethereum earlier this year outraged the XRP community by asserting that XRP lost its right to protection after the firm tried to paint Ethereum as being “China-controlled.” In the podcast, Buterin also asserted that XRP was “totally centralized.” The centralization of XRP has been a subject of debate, with some detractors asserting that the firm controls or centralizes XRP. Surprisingly, just 2 out of 35 validators are within the firm’s control, making up less than 5.8% of its distributed computational power.

This occurs after the XRPL Foundation eliminated two Ripple-controlled validators in October, but a UNL upgrade added a single new Ripple validator. #XRP #Ripple News




Ripple CTO Sees Light At End Of Tunnel Despite Warren’s Crypto Warning

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David Schwartz, CTO of Ripple, reluctantly concurs with Senator Elizabeth Warren’s warning about cryptocurrency. In terms of regulating cryptocurrencies, he thinks the Massachusetts senator might actually be on to something.

Warren worries that if there is no adequate oversight, cryptocurrency might end up bringing down the economy in recent op-ed published by The Wall Street Journal.

The senator admits that cryptocurrencies may eventually lead to a more inclusive financial system, but she also emphasizes the fact that history is “littered” with a variety of dubious financial schemes that were promoted by “criminals and charlatans.”

The Justice Department should employ its “full range of resources,” according to Warren, because cryptocurrency executives who violate the law are no different from those who use other platforms.

The legislator continued by saying that the US Securities and Exchange Commission also needed to “suit up.” Warren also criticized cryptocurrency mining companies for putting a load on the electrical infrastructure and raising greenhouse gas emissions.

She has emphasized that cryptocurrency must adhere to the same regulations as traditional financial industries.

Schwarz from Ripple says that given Warren’s recognition of the significance of reforming cryptocurrency law, this is not “an bad position to work with.” This, he continues, is crucial for establishing proper crypto rules.

Ripple Looking To Consider Deals For FTX Assets

The demise of the reputable exchange FTX has continued to have a negative impact on the cryptocurrency economy. Many organisations have expressed interest in helping Sam Bankman-failing Fried’s company from the outset. Binance first considered throwing a life jacket but eventually changed his mind. At about the same time, Justin Sun of Tron asserted that he was developing a plan with FTX to “initiate a pathway ahead.”

However, as of late, the blockchain payment giant Ripple has expressed interest in purchasing some of the assets of the struggling cryptocurrency exchange FTX.

The Sunday Times reported that former FTX CEO Bankman-Fried called Ripple CEO Brad Garlinghouse two days before the company declared bankruptcy in an effort to gather investors to save it. The two then talked about if there were any FTX-owned companies that Ripple “would want to own.”

Garlinghouse further stated,

“Part of my conversation [with SBF] was if he needs liquidity, maybe there are businesses that he has bought or he has that we would want to own. Maybe there’s investments that we would want own. Would we have bought some of those from him? I definitely think that was on the table.”

“Ripple Might Fail But Not XRP”- David Schwartz

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Ripple CTO David Schwartz was asked if the blockchain firm along with XRP would go down in the same way as FTX. Schwartz replied that “bad things can happen to Ripple as it’s a company, after all”.

But have a hard time picturing the same with XRP, unless there is a catastrophic failure of the ledger. The chief executive was questioned by a user on the likelihood of future acquisitions of Ripple by businesses like Apple or Microsoft.

He responded, “I don’t think it’s particularly likely. It’s hard for me to see how it would fit”. Schwartz then laid out two scenarios in the advent of a takeover.

One possible scenario is if such a company buys Ripple without the XRP, the blockchain firm would divide the token proportionately among its stockholders. “That solves that problem, but I still don’t see why it would happen,” he said.

Could a company want RippleNet so much that we split that off and sell it to them? Then XRP and RippleX would remain a separate company without RippleNet. I guess that’s theoretically possible. But still, I don’t see any reason for it.

Recently, Schwartz made a sarcastic tweet that the firm was planning to acquire the troubled FTX exchange but could not go ahead owing to encountering a problem with a sudden cash crunch, referring to the $8 billion FTX missing to stay afloat.

Ripple CTO Says Doors Are Open For FTX Employees

The top executive also made a suggestion that FTX staff members might consider a career in the blockchain payments company. An earlier version of this offer was made by Schwartz to Twitter employees, who were laid off as a result of the management.

FTX, a once-dominant crypto exchange is mired in a struggle with insolvency and is currently attempting to acquire around $9.4 billion in capital to keep solvent as the Binance merger failed.

According to a tweet from the exchange’s official Twitter accounts, it has already secured a line of credit from Tron to provide liquidity for tokens tied to TRX.

On-chain data indicated that the exchange has resumed processing withdrawals. The embattled firm through a tweet yesterday, made it clear that it is adhering to Bahamian regulations, the cryptocurrency exchange has, however, restricted withdrawals to its Bahamian customers.