Matt Hamilton on why XRP is on a par and even superior to Bitcoin
Matt Hamilton, Ripple’s former director of developer relations, gives his details sight XRP price chart. Hamilton’s comment came in response to a Twitter user wondering how an asset whose chart looked like XRP could have held on 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.
Furthermore, the developer corrected his opponent that both the community and the token are not related to Ripple, but only to XRP.
XRP price action
Let’s leave aside arguments about ponzinomics and whose price action is better and turn directly to the XRP price charts.
Based on technical analysis alone, XRP price is currently forming a global bull flag, as reported by U.Today. A similar pattern emerged from July 2013 to March 2017, after which the price of XRP increased by 60,000% in just one year.
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.
