During an online discussion between Ripple CTO Emeritus David Schwartz and an XRP enthusiast on X, Schwartz dismissed claims that the price of XRP could hit a $10,000 mark in the future.
Schwartz’s statement came in response to a viral comment that raised questions about the popular Chris Burniske market valuation method.
While the method is often used to estimate crypto prices using economic variables such as supply and velocity, the X user asked Schwartz about his opinion on investors hoping for a five-figure price surge for XRP.
Schwartz weighs in on XRP at $10,000
In his response, Schwartz weighed in on the odds of XRP hitting $10,000 at some point while analyzing the market behavior.
Notably, Schwartz argued that if there were even a small probability, say 1%, that XRP could reach $10,000 within a decade, rational investors who are considered rich would already be accumulating the asset aggressively.
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Furthermore, Schwartz went on to question the reason why the buying activity of such optimistic participants has not materialized. Thus, he believed that the absence of “very rich, very rational” investors betting on that outcome speaks volumes.
Schwartz maintains unwavering stance on XRP
While the speculative narrative has been the buzz of the XRP community as the market begins to show signs of a bull run, the discussion has sparked attention from the crypto community, igniting extensive debate about whether XRP is legitimate or not.
Despite dismissing the $10,000 prediction for XRP, Schwartz did not criticize XRP itself; he signaled that the prediction may not be realistic but XRP has all the legal backing it needs to be grouped among legitimate crypto assets.
His statement focused on how markets behave when presented with high-conviction opportunities and why, in this case, the expected signals are missing.
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