The former director of developer relations at Ripple suggested that XRP could rise to $100 in the future.
Matt Hamilton has been Director of Developer Relations at Bittensor since March 2022. Even though Hamilton left Ripple, where he worked for about a year, he remains optimistic about the infrastructure of Ripple and XRP. He has already been criticized for this by bitcoin enthusiasts. One user tweeted to Hamilton that “many people overestimate the power of XRP” and called the cryptocurrency “a worthless entry in a centralized database.”
“Pretending that you don’t know the difference between a blockchain and a centralized database does not prove the validity of your assessment,” wrote Hamilton in defense of Ripple. – XRP Ledger is decentralized. Any guesses are subjective and no one has a crystal ball, so I don’t make price predictions. But I don’t understand why XRP won’t be able to reach $100 at some point? It’s just a matter of time. If you had said in 2009 that Bitcoin would reach $60,000, you would have been laughed at.”
In early January 2018, XRP hit an all-time high of $3.4. However, in 2020, the XRP rate collapsed due to allegations made against Ripple by the US Securities and Exchange Commission (SEC). The agency claims that the company conducted an unregistered ICO in 2013, violating US securities laws. XRP is currently trading at $0.4 per coin and has a market capitalization of $19.7 billion.
Litigation between Ripple and the SEC is still ongoing, and the further value of XRP will depend on the outcome of the lawsuit. If Ripple wins the case, the XRP price could really go up. Although, according to lawyer John E Deaton, who represents the interests of XRP holders, both sides are able to win in court.
Earlier, Ripple CEO Brad Garlinghouse said that if the regulator had not taken aggressive action against the company, XRP would still be in second place in terms of market capitalization after bitcoin.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
