David Schwartz – Chief Technology Officer of Ripple – involved himself in a dispute with the American broadcaster and filmmaker Max Keiser.
The latter described XRP as a “centralized fiat-shitcoin.” In the following lines, we will outline Schwartz’s reaction to that claim and his opinion on other speculations surrounding the blockchain enterprise and its native coin.
XRP is Not Designed to Benefit the Elite Holders
Schwartz took it to X (Twitter) to counter-attack on the recent bashing manifest that reached XRP (led by Bitcoin advocate Max Keiser). Ripple’s CTO argued that the token is not created to enrich and empower only the top 1% of people controlling the XRP system.
“XRP empowers anyone who wants to use the ledger to track the ownership and exchange of assets… I can’t see any real connection between my patent and XRPL design. The patent was aimed at using “stranded” CPU power that would otherwise go to waste, but the technology didn’t evolve as most people expected it to, and the patent became mostly irrelevant.”
Ripple’s CTO also said his patent predates Bitcoin. However, he clarified that the network behind the largest cryptocurrency by market capitalization “was using proof of work to solve the double spend problem,” which his invention “doesn’t relate to.”
Subsequently, Schwartz rejected the rumors that the mysterious creator of Bitcoin, known as Satoshi Nakamoto, has ever made a comment on XRP. Instead, they talked about the original RipplePay system, which is quite different from the decentralized, public blockchain XRP Ledger (XRPL).
Is XRP Poised for a Rally?
Speaking of Ripple’s native coin, it is worth mentioning some of the latest predictions coming from experts regarding its potential price surge.
Some speculated that XRP could explode to $10 or even the ridiculous level of $500 in the future. Others, like the X user EGRAG CRYPTO, have laid out more realistic forecasts, envisioning the asset to rise to $1.40 should it surpass certain key levels.
CryptoPotato also asked ChatGPT about the potential factors that could play a role in XRP’s price increase. Such catalysts are the outcome of the Ripple v. the SEC lawsuit, regulatory developments, speculation, market sentiment, and adoption. Those who wish to learn how XRP could perform during the next bull run can watch our dedicated video.
This article first appeared at CryptoPotato