- Ripple Labs CTO David Schwartz says the company can’t debunk XRP predictions.
- He says debunking price predictions may lead to Ripple calling the right predictions false.
- XRP community members have accused Ripple founders of holding back XRP adoption following July’s federal court ruling.
Ripple Labs Chief Technology Officer David Schwartz, in a recent post on X, said the company can’t go around debunking every XRP price prediction. According to him, doing so may also lead to them calling accurate predictions false.
The post came in response to a post by a user who accused the company’s executives of sitting on the sidelines while predictions about XRP’s price flew around. He accused the founders of letting XRP holders suffer while they “hit the rich list and post $2m porches [sic].”
The post, which has since drawn criticism, added that a post from the Ripple team could have corrected misinformation about XRP circulating online. Schwartz retorted, “We don’t know everything, and even a small chance we “debunk” something true is worrisome.”
“If we call out everything we know is false, we’ll be seen to be enforcing things we don’t know aren’t fake because we won’t can [sic] them out. There are other issues, too, such as legal risks,” he said in the post.
Following Ripple Lab’s partial victory against SEC in July, many price predictions emerged, forecasting a massive increase in XRP’s price. While the token did experience a surge after the victory, it has since shed all its gains.
Even though the prolonged bear market has equally affected the token’s price, many within the XRP community have accused Ripple of holding back XRP’s utility, in particular by excluding it from the company’s Liquidity Hub product, which incorporates other major cryptocurrencies. According to them, the partial victory, which has since given clarity about XRP’s securities status, should have fueled more adoption of the utility token.
Elsewhere, XRP continues to trade under 50 cents, even though it picked up last week in an overnight altcoin rally. At the time of press, the token is exchanging hands at $0.4934 apiece, according to data from CoinMarketCap.
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