Ripple (XRP) Chief Technical Officer (CTO) David Schwartz addressed concerns about token giveaways by the cross-border payment remittance firm.
Ripple CTO David Schwartz says that giving away XRP is worse than selling the altcoin, addresses holder concerns. XRP whales distribute holdings, while several segments of retail users buy the altcoin this week. XRP trades at $0.55, erasing 7.6% of its value since Monday. Ripple Chief Technical Officer David Schwartz addressed concerns about token giveaways by the cross-border payment remittance firm.
The altcoin has been in a multi-month downtrend since its July 2023 top. XRP could sweep liquidity at $0.51 if there is a further correction in the altcoin. At this point, traders who accumulated could attempt to push it back above key support at $0.55 and $0.57. The Moving Average Convergence Divergence indicator shows red histogram bars under the neutral line, signaling negative underlying momentum in the Ripple price trend. XRP/USDT daily chart A daily candlestick close above $0.
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