Ripple’s Chief Technology Officer Defends the Firm Against Wild XRP Price Predictions.

By Doris Ford On Sep 20, 2023

The cryptocurrency market has been caught off guard by a number of price forecasts about XRP that have been made over the course of the past few months. While some of these have appeared to be within reach, others have carried price ranges that appear to be completely out of reach from where we are currently standing. A

David Schwartz, the CTO of Ripple, has stepped forward to clarify why the business is not denying the predictions in response to members of the community who have questioned what Ripple can do about these predictions.

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Ripple CTO Says It’s Hard

An X (previously Twitter) user brought to the attention of the Chief Technology Officer of Ripple the multiple XRP price projections that have been circulating on social media recently.

“Ripple has let people suffer, while Ripple founders hit the rich list and post $2 million porches,” said the X user used by the name Darkhorse, who slammed out Ripple and its creators for not debunking these outlandish price projections that have gone as high as $50,000.

Darkhorse said at the end of the post that they could have easily disproved these XRP price estimates to avoid this. “Just 1 post would have been enough to correct the BS,” the user said.

Schwartz, who was mentioned in the tweet, responded to Darkhorse’s complaints by explaining why the cryptocurrency company hasn’t exactly come out to disprove the XRP price predictions. He starts by saying that he knows how the user feels, but “it’s a lot harder than you think.”

The CTO of Ripple says that if the company debunks everything, it could end up debunking something that turns out to be true. He also said, “If we call out everything we know to be false, we’ll be seen as enforcing things we don’t know to be false because we won’t call them out.”

XRP Price Predictions Are Still Rampant

In the last few weeks, XRP price estimates have been coming in hot. One of the most interesting is the $10,000 prediction made by an expert who goes by the name Lord XRP on X (which used to be Twitter). The forecast comes after a Wells Fargo manager said that the price of XRP would be $500.

Both of these price estimates are based on the idea that Ripple will start to get a bigger share of the market for payments. Analysts think that when this happens, the price of XRP will go up exponentially because Ripple will have a bigger share of the market cap.

A crypto analyst who goes by the name XRP Captain made a smaller price estimate that the price would rise to $130. But the price trend has shown a “death cross” in the last few days, which says that none of these predictions will come true any time soon.

Is XRP the Next Bitcoin?

Many people are curious about the future value of Ripple’s XRP token, which is widely regarded to have a significant amount of potential upside.

Ripple’s CEO, Brad Garlinghouse, claims that the token has the potential to become the next Bitcoin, thus it would appear that he has a solution.

Who is the Biggest Investor in Ripple?

Who are the people listed on the XRP Rich List? The addresses that are known to contain the most XRP coins are often those that belong to the project’s founders and executives, such as Chris Larsen and Brad Garlinghouse, as well as centralized exchanges like Binance, Kraken, Uphold, Bitbank, and others.

Was XRP gifted to Ripple?

Prior to the establishment of Ripple Labs as a firm, XRP was initially developed. The developers of XRP donated eighty percent of all XRP to the corporation while retaining twenty billion units for themselves. Because it is regulated by a centralized authority, XRP cannot be mined, which is one of the reasons that traditional financial institutions and corporations have shown interest in digital currency.

Why is XRP so Valuable?

XRP is a cryptocurrency that has already been mined and has a total quantity of one hundred billion tokens. Bitcoin’s transaction times are longer, XRP’s transaction times are shorter, and XRP requires less energy to process than Bitcoin does.