Ripple’s chief technology officer (CTO) David Schwartz acknowledged the speculative movements driving the cryptocurrency market and spoke about the “usage-driven” nature of XRP. Answering questions about XRP’s value proposition from crypto podcaster Scott Melker on X (formerly Twitter), Schwartz described XRP as “a blockchain where people can be their own banks, where middlemen don’t tax transactions.” “XRP is the only asset that has no counterparties and is accessible to every account in every jurisdiction, with no risk of default, freeze, or clawback,” Schwartz said. While Ripple's executive acknowledged that cryptocurrency market values are largely determined by speculation, he said, “I want to believe in the importance of usage.” Schwartz is expected to step down as CTO at the end of the year. These revelations have revived the long-standing debate over what constitutes the true value of cryptocurrencies. Some investment firms, notably Hargreaves Lansdown and Charles Schwab, argue that crypto assets have no inherent value. *This is not investment advice.