Last week, the Ripple (XRP) community almost went into FUD mode after a crypto expert signaled that Ripple might be planning to replace its native token.
Crypto influencer on X, Aspen Signals, noted on June 7, 2024, that Ripple might be considering dropping its long-time token XRP.
According to Aspen, David Schwartz’s (Ripple’s CTO) cover photo on X suggested that Ripple might soon be forced to choose between its vision (global payments using XRP) and its survival (a new token with less crypto legislation pressure).
Responding to this tweet, Schwartz said the photo is just a ‘fictional pitch for a fictional movie.’ However, some experts have suggested that the cover is misleading and could lead to unnecessary FUD for XRP in an unstable market.
In early June, XRP went bearish, and analysts say this negative market sentiment may have triggered the downward movement. On June 2, XRP traded for $0.5183.
A week later, XRP lost 4.60% and traded for $0.4944. Since Schwartz has cleared the air, we may see XRP bounce back and trade for $0.5250 before mid-June.
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