Ripple’s Chief Technology Officer Emeritus, David Schwartz, has cast doubt on the widely-held belief that XRP will eventually be worth as much as $100 per coin.
Is $100 XRP an Impossible Dream?
It all started when one Ripple advocate took to X to ask David Schwartz to talk to XRP holders regarding unrealistic price targets. Specifically, he asked Schwartz to confirm to XRP investors that their beloved cryptocurrency would never hit the astronomical $50-$100 range. In his opinion, multiple investors have lost money by holding onto those hopes, and Schwartz should address it for his “pure conscience.”
Responding, Schwartz stated that he does not feel comfortable setting sky-high targets for XRP’s price. He emphasized that while he personally doubts that XRP would ascend to as high as $100, he had been proven wrong by the market in the past.
“I don’t feel comfortable saying something like that,” Schwartz noted. “While I don’t think it’s likely, I didn’t think it was likely that XRP would ever hit $0.25.”
When the XRP price climbed to $0.10, he sold a portion of his holdings because the level felt too high to make sense. The XRP Ledger chief architect also likened this to Bitcoin’s early days, when few people imagined the top crypto would reach $100.
XRP At $0.25 Also Once Felt “As Ridiculous”
Most people were not happy with Schwartz’s statement.
For one Crypto Bitlord, it’s “insane” to learn that a respected Ripple developer liquidated his holdings at $0.10 while holders held on to the belief that XRP would reach $100 heights.
Bitlord also slammed Schwartz for now claiming that $50 to $100 seemed impossible. He asserted that if Ripple’s leadership no longer believed in mythical price levels, then the project had failed.
Schwartz went on to note that when XRP was valued at around $0.006, he also thought that a move to $0.25 was just as unrealistic as the token now rallying to $100.
In fact, he revealed that the Ripple team held a party when it finally hit $0.25, while also joking about how impossible it seemed for XRP to reach the $1 milestone. Nevertheless, XRP has remained resilient, smashing levels that once felt unattainable.
The price of XRP recently plummeted below the formidable support level at $2 amid a market-wide sell-off as Middle East tensions and political uncertainty in the U.S. nudge investors away from riskier assets.
The Ripple-linked cross-border payments cryptocurrency fell as much as 7.8% over the past 24 hours to trade at $1.64, per CoinGecko data.
Source: https://zycrypto.com/ripple-cto-emeritus-doesnt-think-xrp-will-ever-hit-100-heres-why-thats-insane/
