In a recent discussion, former Ripple CTO David Schwartz expressed his thoughts on the evolving perceptions of XRP price predictions. He pointed out that the idea of XRP reaching $0.25 once seemed as far-fetched as the notion of it hitting $100 does today.
During the conversation on platform X, Schwartz addressed concerns from a Ripple supporter who urged him to be candid about unrealistic price targets for XRP. This supporter argued that many investors have suffered losses by clinging to hopes of XRP reaching between $50 and $100, and he believed Schwartz owed it to the community to clarify these expectations.
In his response, Schwartz indicated discomfort with setting strict price limits for XRP. Although he personally doubts the likelihood of XRP reaching $50 to $100, he acknowledged that he has previously underestimated market movements. Reflecting on earlier market conditions, he recalled a time when XRP was trading around $0.006, and many, including himself, found the idea of it reaching $0.25 to be implausible.
Schwartz also recounted how, when XRP”s price hit approximately $0.10, he decided to sell some of his holdings, believing the price had already peaked. He likened this experience to the early days of Bitcoin, when reaching $100 was considered an unrealistic target by the majority.
However, the discussion took a turn when Crypto Bitlord, an XRP advocate turned skeptic, expressed frustration over Schwartz”s previous actions and current statements. He criticized the former CTO for selling XRP at $0.10 while investors continued to hold out for higher prices. Bitlord suggested that if Ripple”s leadership no longer believed in reaching the ambitious price levels of $50 to $100, it indicated a loss of confidence in the project itself.
Responding to the criticism, Schwartz provided additional context for his views. He remarked that while he considers a rally to $100 unlikely, he reiterated the disbelief he felt when XRP was valued at $0.006 and the thought of it reaching $0.25 seemed equally improbable. Once XRP did surpass the $0.25 mark, the team celebrated a milestone they once deemed unattainable, illustrating how market sentiment can shift dramatically over time.
Interestingly, the last time XRP traded at $0.006 was in February 2017, following a sharp decline from previous highs. At that time, XRP”s all-time high was recorded at $0.0614, a far cry from the $0.25 threshold. The climb from $0.006 to $0.25 would have required a staggering 4,066% increase, which Schwartz found hard to believe back then.
Ultimately, Schwartz”s insights highlight the unpredictable nature of the cryptocurrency market. Despite his skepticism about XRP reaching $100, he refrains from making definitive statements, having learned from past experiences that cryptocurrency can often exceed even the most ambitious expectations.
