Ripple Former CTO Speaks Up On XRP Price Surge To $10,000 In 10 Years

XRP price is expected to hit $10,000 in 10 years, according to some recent speculation. However, Ripple’s former CTO David Schwartz has dismissed the idea with a market-based argument.

David Schwartz Debunks $10,000 XRP Price Target

The debate picked up following comments by Elon Musk during his court appearance for his lawsuit against OpenAI. In the courtroom, Musk claimed some cryptocurrencies have “merit, but most crypto coins are scams.” Schwartz partly concurred, “There’s a lot more agreement that most cryptos are scams than there is on which ones aren’t.”

However, focus soon shifted to humungous XRP price prediction targets. He responded to those who predicted the token could reach $10,000. Ripple’s Schwartz said if that were the case, rational investors would be factoring that in already.

“If there were a few very rich, very rational people who really believed that there was a 1% chance that XRP could hit $10K in 10 years, they’d bid XRP up to at least $20 today,” he said. Schwartz asked a rhetorical question: “Why aren’t they?” The statement aims to bust unverified claims on XRP price’s future.

Schwartz also responded to valuation theories based on American entrepreneur Chris Burniske’s formula [Price = PQ / (V × S)]. While some argue that such models support high price targets, others argue that they fail to account for liquidity and market capitalization issues.

Can Ripple Influence The Price of XRP?

In addition, Schwartz also rejected claims that Ripple could potentially manipulate the XRP price higher. He said that while such ideas might have been plausible in the past, “it’s hard to argue that today.” he added.

To justify his statement, he pointed to recent market scenarios and increased transparency in the company. Regarding investment, Schwartz said it is not the case that rich people don’t take risks.

“The way rich people preserve wealth is by taking bigger risks than other people can stand to take,” he stated. He said that if large-scale buying sustains, it would affect XRP price levels, whether it takes place on public markets or privately.

However, the Ripple CTO Emeritus rejected conspiracy theories about XRP. He declared, “We’re not hiding some grand conspiracy. At least not as far as I know.” The statement is in line with his thoughts on a “secret plan” linked with Ripple, which he denied recently.

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