In recent months, there have been a number of XRP price predictions that have taken the crypto market by surprise. While some of these seemed feasible, others had price ranges that seem impossible from today’s perspective. a
As community members wonder what Ripple can do about these predictions, Ripple CTO David Schwartz has come forward to explain why the company isn’t debunking the predictions.
Ripple CTO says it’s hard
An X user (formerly Twitter) drew the Ripple CTO’s attention to the numerous The Post $2 million. ”
Concluding the post, Darkhorse explained that they could have easily debunked these XRP price predictions to prevent this from happening. “It would have taken me 1 post to correct the BS just 1,” the user said.
Schwartz, who was mentioned in the tweet, responded to Darkhorse’s complaints and explained why the crypto company hasn’t necessarily come forward to debunk XRP price predictions. He starts off by saying that while he understands how the user felt, “it’s a lot harder than you think.”
Ripple’s CTO explains that debunking everything can increase the chance that the company will end up debunking something that actually turns out to be true. He added; “If we shout that everything we know is fake, we will force things we don’t know aren’t fake because we can’t rule them out.”
Finally, the CTO points out the possibility of legal risks arising from attempting to debunk all price predictions.
I completely understand why you feel this way, I do too sometimes. But it’s much harder than you think. We don’t know everything, and even the small chance that we ‘debunk’ something true is worrying. If we shout that everything we know is false, we will find ourselves enforcing things we…
— David “JoelKatz” Schwartz (@JoelKatz) September 17, 2023
XRP price predictions are still rampant
The XRP price predictions are still popular in recent weeks. Some of the most notable include the $10,000 prediction from an analyst using Lord XRP on X (formerly Twitter). The prediction follows that of a Wells Fargo Manager by setting the XRP price at $500.
Both price predictions actually follow the expectation that Ripple will capture a larger share of the payments market. When this happens, the analysts expect the XRP price to rise exponentially due to Ripple’s market cap share.
Smaller price predictions also include a predicted run to $130 by pseudonymous crypto analyst XRP Captain. however, the appearance of a death cross in the price development of recent days suggests that none of these predictions will come true anytime soon.
Token price holding $0.5 support | Source: XRPUSD on Tradingview.com
Featured image from iStock, chart from Tradingview.com