On Sunday (June 5), Matt Hamilton, who is currently Director of Developer Relations at Bittensor, said that he could envision the price of digital asset $XRP one day reaching $100.
Between February 2021 and September 2021, Hamilton worked at Ripple as Director of Developer Relations, and between September 2021 and March 2022, he was the Californian FinTech firm’s Principal Developer Advocate.
Hamilton’s comments about the $XRP price were made in response to a Bitcoin HODLer who said in a tweet that XRP “is literally a worthless entry on a centralised database” with no chance of ever having a $5 trillion market cap (i.e. its price reaching $100). Hamilton first pointed out that the XRP Ledger (XRPL) is in fact a decentralized public blockchain as opposed to “a centralized databasse” and that although he does not make price predictions, it was certainly possible for the $XRP to “hit $100 at some point”.
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
Currently (as of 7:20 p.m. UTC on June 5), according to data by CryptoCompare, $XRP is trading around $0.3972, and it has a market cap of $39.72 billion.
On May 31, Hamilton explained why digital asset $XRP has been able to stay among the top 10 cryptoassets by market cap.
Hamilton’s comments about XRP were made in response to the following tweet by Cardano fan Victor Duran, who is Social Media Manager at NFT-MAKER:
I know nothing about Ripple $XRP other than it aims to make cross-boarder payments cheap, but is it actually being used?
I’m curious, how has it maintained a top 10 position? No DEXs, no smart contracts, no NFTs and it’s in an ongoing lawsuit with the SEC.
— Victor Duran (@vicduranduran) May 31, 2022
Hamilton told Duran that “the reason that XRP has stayed in the top ten is because it works.”
The reason that XRP has stayed in the top ten is because it works. It does what it says on the tin. The XRP Ledger is still the best blockchain for payments and transferring value around. It is decentralised, secure, fast, cheap, scalable, well tested. Stood the test of time.
— Matt Hamilton (@HammerToe) May 31, 2022
Featured Image by “RoyBuri” via Pixabay.com
