In a recent X interaction, Ripple's Chief Technology Officer David Schwartz responded to speculation about the future price of XRP, addressing the ongoing curiosity in crypto circles.
An X user had posed a question to Schwartz, seeking to know the timeline for when the true value of XRP might be realized. The user inquired whether this could happen within a year or two, or perhaps by 2027, 2028 or 2030, especially considering that the SEC is not appealing in the case - not continuing to argue that XRP is a security.
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The price of XRP, the seventh largest cryptocurrency by market capitalization, has been the subject of speculation, particularly following Ripple's partial legal victory against the SEC, with hopes that it may rise significantly in the future, aided by regulatory certainty.
I know of no method to predict the future prices of cryptocurrencies.
â David "JoelKatz" Schwartz (@JoelKatz) October 21, 2024
In response, Schwartz offered a straightforward answer: "I know of no method to predict the future prices of cryptocurrencies."
XRP price speculation
The SEC filed its lawsuit against Ripple in December 2020, alleging that sales of XRP are sales of unregistered securities, causing a significant decline in the price of XRP and delisting it from major exchanges.
In a landmark decision in July 2023, Judge Torres ruled that XRP was not a security in and of itself, providing a much-needed boost to the XRP community. Following that, the XRP price soared, and the cryptocurrency was relisted on multiple exchanges.
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The SEC's decision not to appeal XRP's nonsecurity status has brought some regulatory clarity, but Schwartzâs reply suggests that even with this victory, it might be impossible to predict when or if XRP might see the kind of price surge that some expect.
The Ripple CTO's response highlights a key reality of the cryptocurrency market â predicting future prices is inherently uncertain. Even with positive developments like regulatory clarity, the broader market dynamics and macroeconomic factors might have a significant impact on the price of any asset, including XRP.
At the time of writing, XRP was down 3.57% in the last 24 hours to $0.533, reflecting the broader crypto market drop.
