The former Ripple exec is confident about XRP despite its negative performance.
While many Ripple (XRP) investors seem to be losing hope following the underperformance of XRP in the past months, Matt Hamilton, former director of Ripple’s Developer Relations, is optimistic about the cryptocurrency.
According to a Twitter thread, Hamilton affirmed that XRP would one day soar as high as $100.
“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,” the former Ripple’s Director of Developer Relations 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 Still Defending Ripple
Hamilton, the current Director of Developer Relations at Bittensor, used to work in the same position at Ripple between September 2021 and March 2022.
Hamilton still thinks highly of the cryptocurrency linked to the famous blockchain company and its infrastructure despite leaving Ripple.
Hamilton made his XRP prediction following criticism from a Bitcoin holder, who slammed a Ripple enthusiast for suggesting in a video that XRP would soar to $100.
The Bitcoin enthusiast noted that XRP can’t reach $100 because the cryptocurrency is “literally a worthless entry on a centralized database.”
However, Hamilton would not tolerate further derogatory comments made at the popular blockchain company as he put up a defense in favor of his former employers, 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.”
Centralised database? OK, so future valuations are very much subjective, and no-one has a crystal ball. But pretending you don't know the difference between a blockchain and a centralised database is not going to help your assessment of things. The XRP Ledger is decentralised.
— Matt Hamilton (@HammerToe) June 5, 2022
XRP Value Dependent on SEC Lawsuit Outcome
XRP has fallen massively from its all-time $3.40 recorded on January 7, 2018. The cryptocurrency crashed massively in the build-up to the charges filed by the Securities and Exchange Commission against the blockchain company for conducting an unregistered securities offering in the United States.
At press time, XRP is changing hands at around $0.40, according to data on Coingecko.
Meanwhile, the performance of XRP is solely dependent on the outcome of the lawsuit, which is expected to end on or before March 31, 2023.
If the lawsuit outcome favors Ripple, XRP will be listed across numerous exchanges in the United States, and its price will soar tremendously.
However, if the outcome does not favor the blockchain company, investors should expect the XRP price to crash further.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
