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Ripple CTO Explains Company’s Stance On Debunking Outrageous XRP Price Predictions
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Ripple CTO Explains Company’s Stance On Debunking Outrageous XRP Price Predictions

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Ripple CTO XRP price

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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.”

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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.

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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.

Ripple XRP price chart from Tradingview.com (Ripple CTO price predictions)

Token price holding $0.5 support | Source: XRPUSD on Tradingview.com
Featured image from iStock, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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