In a recent tweet, Matt Hamilton, a former Ripple executive, says that he sees XRP reaching a value of $100 in the future.
“I don’t make price predictions. But I don’t see why XRP couldn’t hit $100 at some point. Just a question of time. If you said in 2009 that Bitcoin would hit $60k, you’d be laughed at,” Hamilton said.
What makes you think the XRP Ledger is a centralised database? You know how blockchains work, right?
I don’t make price predictions. But I don’t see why XRP couldn’t hit $100 at some point. Just question of time. If you said in 2009 that Bitcoin would hit $60k, you’d be laughed
— Matt Hamilton (@HammerToe) June 5, 2022
Hamilton, who now works as the Director of Developer Relations at Bittensor, a decentralized AI neural network, used to occupy the same position at Ripple between Sept. 2021 and March 2022.
Although he has since left the company, Hamilton still thinks highly of Ripple and its native token. In fact, he made his XRP prediction following criticism from a Bitcoin (BTC) hodler, who said that XRP can’t hit $100 given the cryptocurrency is “literally a worthless entry on a centralized database.”
Hamilton, who felt that the comments against his former employer besides being incorrect were also derogatory, responded by saying:
“Centralized database? OK, so future valuations are subjective, and no one has a crystal ball. But pretending you don’t know the difference between a blockchain and a centralized database will not help your assessment of things. The XRP Ledger is decentralized.”
No, YOU are missing the point. You’re suggesting xrp could hit a market cap of $5 trillion. That’s more than double Apple market cap. This is ludicrous. Xrp is literally a worthless entry on a centralised database. By releasing a video that suggests this you are promoting a scam.
— sir bitcoin (@sir_bitcoin) June 5, 2022
XRP was last changing hands at $0.3974, up 3.93% in the last 24 hours. The native token of the Ripple blockchain, which has tanked more than 86% since Jan. 2018, has a total market cap of $19 billion.
The price crash is a brutal reminder of the volatility of the cryptocurrency market. That said however, it’s worth noting that the charges filed in December 2020 by the Securities and Exchange Commission (SEC) against the blockchain company also contributed to the token’s masive decline.
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