Over the last few months, there have been a number of XRP price predictions that have taken the crypto market by surprise. While some of these have looked to be attainable, others have carried price ranges that seem impossible for the current vantage point. A
s a result of community members questioning what Ripple can do about these predictions, Ripple CTO David Schwartz has come forward to explain why the company is not debunking the predictions.
Ripple CTO Says It’s Hard
An X (formerly Twitter) user drew the attention of the Ripple CTO toward the numerous XRP price predictions that have been making the rounds on social media. The X user who goes by Darkhorse called out Ripple and its founders for not debunking these outrageous price predictions that have gone as high as $50,000, saying that “Ripple have let people suffer, while Ripple founders hit the rich list & post $2m porches.”
To round off the post, Darkhorse explained that they could’ve easily debunked these XRP price predictions to prevent this. “Would of taken 1 post to correct the BS just 1,” the user said.
Schwartz who was mentioned in the tweet responded to Darkhorse’s complaints to explain why the crypto firm has not necessarily come forward to debunk the XRP price predictions. He starts out by saying that while he understands how the user felt, “it’s a lot harder than you think.”
The Ripple CTO explains that debunking everything could open up a chance that the company ends up debunking something that actually turns out to be true. He further added; “If we call out everything we know is false, we’ll be seen to be enforcing things we don’t know aren’t fake because we won’t can them out.”
Lastly, the CTO points to the possibility of legal risks arising from trying to debunk all of the price predictions.
I completely understand why you feel this way, I do sometimes too. But it’s a lot harder than you think. We don’t know everything, and even a small chance we “debunk” something true is worrisome. If we call out everything we know is false, we’ll be seen to be enforcing things we…
— David “JoelKatz” Schwartz (@JoelKatz) September 17, 2023
XRP Price Predictions Are Still Rampant
The XRP price predictions are still coming in hot over the last few weeks. Some of the most notable ones include the $10,000 forecast put forward by an analyst who goes by Lord XRP on X (formerly Twitter). The prediction follows one from a Wells Fargo Manager placing the XRP price at $500.
Both of these price predictions actually follow the expectation that Ripple will begin to capture a larger share of the payments market. When this happens, the analysts expect the XRP price to rise exponentially as a result of the share of the market cap commanded by Ripple.
Smaller price predictions have also included a predicted run to $130 by pseudonymous crypto analyst XRP Captain. However, the appearance of a death cross in the price trend over the last few days suggests none of these predictions would be happening anytime soon.
Token price holding $0.5 support | Source: XRPUSD on Tradingview.com
Featured image from iStock, chart from Tradingview.com