David Schwartz, Ripple’s former chief technology officer and a creator of the XRP Ledger, dismissed the idea that using XRP as the ledger’s gas token would be a major factor in determining its price. He said that mass adoption of the XRP Ledger could create value for XRP through its privileged position within the network. Schwartz highlighted XRP’s lack of counterparty risk, its jurisdictionless nature and its role in the ledger’s autobridging features. He also specified that the XRP Ledger was not created solely to raise XRP’s price, but to provide fast, inexpensive payments and a decentralized exchange. The token was trading around $1.09 on Monday after falling more than 12% over seven days.
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