Ripple Honorary CTO Reacts to Millions of XRP Transactions

David Schwartz, Ripple’s former chief technology officer and current chief technology officer emeritus, made a sarcastic comment about the company’s new sponsorship deal with the University of Kansas athletics department and the Kansas Jayhawks.

Ripple CEO Brad Garlinghouse previously said, $XRP The logo appeared on the team’s uniforms, marking the first such integration in the history of U.S. college sports.

A five-year contract in the majors is worth about $30 million, according to sports insiders like Ben Portnoy. Schwartz’s post was clearly an inside joke, as Ripple’s multi-million dollar marketing budget was predictably spent right in line with the CEO’s personal loyalties.

Mr. Schwartz typed his comment and wrote a short reply: “What a wonderful coincidence!” The former CTO’s response points to Garlinghouse’s well-known background, as he not only graduated from the university but also served as one of its major donors for many years.

what is happening $XRP price?

While expanding the brand into the sports field, $XRP We are approaching an important turning point on the price chart. The token is trading around $1.096 and forming a bearish flag on the hourly chart.

Two scenarios are currently relevant:

• Bearish scenario: A break below the $1.07-$1.08 support zone will activate the pattern and move the price towards $1.04, where there will be a large number of limit buy orders. A chain of stop-loss orders from long positions may temporarily push up the stock price. $XRP below this level.
• Bullish scenario: A rally above the $1.096 resistance level and consolidation above the $1.10 psychological barrier will invalidate the bearish formation and pave the way for the $1.14-$1.20 target.

Despite local technical pressures, opening short positions carries increased risk. Historical data shows that July has traditionally been a strong month for the world. $XRPand the token return since the beginning of the month is currently around 7%.

This is in line with the historical median and on track for an average July return of 9.92%. Liquidity remains low during the summer, so any attempt by sellers to push the price below $1.04 could result in a false decline, followed by a quick rebound.

Ripple’s marketing department spends $30 million sewing logos onto jerseys. $XRP’s short-term fate will be determined not by sports, but by a narrow price band between $1.07 and $1.10.