U.Today – David Schwartz, CTO of blockchain giant and one of the creators of XRP Ledger, took to his official account on social media platform X to share his thoughts on the crash that recently rocked traditional financial markets as well as cryptocurrency markets.
He intrigued the XRP community with his tweet, thus generating multiple comments.
Ripple CTO Comments on Market Crash
David Schwartz posted a comment that intrigued and entertained the XRP army, referencing a warning his mother supposedly gave him as a child. The tweet was obviously intended as a joke, as is often the case when Schwartz uses his X account.
In the aforementioned post, he wrote: “At times like this, when the market is crashing and everyone is panicking, I wish I would have listened to what my mother told me when I was a kid.” When many commentators asked him what Schwartz’s mother told him, the Ripple CEO replied: “I don’t know! I didn’t listen.”
Markets are beginning to recover after the recent fall
Over the past 24 hours, the world's flagship digital currency, , has managed to rally 12.6% and reclaimed the $56,000 level after plunging more than 18% since Sunday.
Overall, Bitcoin began its gradual decline on Monday, July 29. Between that date and Monday of this week, BTC fell by 28.70%, bidding farewell to the price level of $69,840.
Today, Bitcoin printed a large red candle on the hourly chart, which pushed it down more than 2% to the $54,750 area.
Bitcoin has started to recover against a backdrop of a Japanese stock market recovery following the recent crash that put pressure on not only the cryptocurrency markets but also traditional markets in the rest of the world. Major US indices such as the S&P 500 and Nasdaq suffered massive declines, and Bitcoin followed suit. The fall in the cryptocurrency markets was compounded by massive liquidations as traders were gripped by fear and tried to avoid further losses.
However, now that the main Japanese index has registered a sharp rise, markets in the rest of the world have also begun to experience a recovery.
Bitcoin is trading at $55,170, the second-largest cryptocurrency is trading at $2,470 after an 11% recovery.
This article was originally published on U.Today
