Vitalik Buterin’s Past with Ripple: What Does It Mean for XRP’s Future?

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XRP, the cryptocurrency often in the spotlight, is experiencing a slight downward trend, possibly indicating a bearish market sentiment. XRP’s flat movement is primarily due to the ongoing Ripple vs. U.S. SEC legal battle, which lacks substantial updates. Additionally, there’s also buzz around why Vitalik Buterin, Ethereum’s co-founder, got engaged with XRP and Ripple back in 2015.

Buterin and XRP: What’s the Link?

The revelation regarding Vitalik Buterin’s involvement with XRP and Ripple in 2015 has garnered considerable attention. Steven Nerayoff, a former advisor to Ethereum, addressed this intriguing topic in his recent post, shedding light on the matter and dispelling lingering community speculations.

Nerayoff clarified that Buterin’s interest in Ripple was indeed genuine, bringing transparency to what had been shrouded in mystery for years.

Controversy Unveiled

The story gains an interesting twist with insights from Matt Hamilton, a former director at Ripple. Hamilton disclosed that Buterin had expressed interest in interning at Ripple, going as far as staying overnight at the residence of Ripple’s CTO, David Schwartz. This revelation set the crypto community abuzz, with many quick to draw conclusions.

Read More: Vitalik Buterin’s Ethereum Transfers Hint at Potential Short Squeeze: Should You Sell Your ETH?

While some saw this as a potential conspiracy, speculations ran rampant about what might have transpired had Vitalik Buterin continued his involvement with Ripple. Some even suggested that he could have harnessed knowledge about XRP’s powerful Consensus Algorithm, potentially implementing it into Ethereum, thus strengthening its position in the blockchain arena.

Buterin’s Multifaceted Interests

Steven Nerayoff’s revelations, however, paint a broader picture of Vitalik Buterin’s interests. Not limited to Ripple, Buterin had once aspired to introduce smart contracts to Bitcoin, a venture met with opposition from developers. His discussions about Ripple were rooted in secret meetings with Ripple representatives, where effective operational practices in the blockchain industry were shared—perhaps a joint effort to elevate the industry as a whole.

Nerayoff’s insights ignite a debate about Buterin’s true intentions during his interactions with Ripple and XRP, leaving room for genuine interest or underlying motives to be explored.

Listen Up, XRP Traders!

While the past is in the past, such revelations are necessary for XRP traders to decide who is riding the SEC horse. Despite today’s slight fall, XRP’s price is inching towards testing the resistance level of $0.5109, despite a minor dip today. If buyers maintain their momentum, a breakout could lead to further growth around the $0.5140 mark. However, on the daily chart, XRP is still flat. It’s currently trading within yesterday’s levels, suggesting sideways movement in the coming days.

Also Read: Will XRP Price See a Relief Rally in October? Here’s What Traders Can Expect

Several positive factors are bolstering XRP’s potential for a rebound. The prospect of a settlement in the SEC vs. Ripple lawsuit and statements made by Ripple CEO Brad Garlinghouse at Mainnet 2023 have laid the groundwork for a potential XRP price recovery.