Matt Hamilton, former director of developer relations at Ripple, has showcased his faith in the future prospect of XRP, the digital token designed for cross-border payments. In a thread of tweets on 5th May, he said he does not “see why XRP couldn’t hit $100 at some point.”
XRP is a popular cryptocurrency that was the third-largest in the market before December 2020, when Ripple, the major distributor of the digital currency, was sued by the United States Securities and Exchange Commission (SEC) for allegedly selling the digital token as an unregistered security.
Read Also: Ripple Co-Founder Jed McCaleb Has Sold About 500 Million XRP In 2022. Here’s His Wallet Balance
The effect of the lawsuit was immediately seen on the price trend of XRP. The SEC hammer obviously deterred XRP from joining the bull market that pushed Bitcoin (BTC) beyond $60,000 resistance level around that time. However, XRP started regaining its lost surging momentum after some positive outcomes from the lawsuit.
Now, the XRP community anticipates victory in the lawsuit or a favorable settlement between Ripple and the SEC, which will obviously take the value of the digital token to the next level.
Matt Hamilton Believes XRP Could Hit $100. Here’s why
The conversation was started on the 5th of June by Max Walker-Williams, an analyst and YouTube content creator.
Captioning a video about Ripple and XRP, Max Walker-Williams tweeted, “Another day, another @YouTube video this time, what you might not know about @Ripple and why XRP could go to $100. Coming very soon…”
Max Walker-Williams’s opinion was then opposed by a supposed Bitcoin enthusiast who tagged the post as a scam. In a nutshell, he blatantly tagged XRP as a scam coin. This prompted Matt Hamilton to weigh in.
The Bitcoin enthusiast wrote, “Xrp is a scam. You know this. Suggesting it could hit $100 is ludicrous. It’s overvalued by 99% (I’m being kind) at the current valuation.”
The user claimed further that Max Walker-Williams is suggesting that XRP could rise up to $5 trillion market cap, which is more than double Apple’s market capitalization. He wrote, “This is ludicrous. Xrp is literally a worthless entry on a centralised database. By releasing a video that suggests this you are promoting a scam.”
Read Also: Ripple Partners with an International Money Transfer Firm to Use XRP for Cross Border Payments
In response to the Bitcoin enthusiast’s claims about XRP being centralized, Matt Hamilton wrote, “Centralised database? OK, so future valuations are very much subjective, and no-one has a crystal ball. But pretending you don’t know the difference between a blockchain and a centralised database is not going to help your assessment of things. The XRP Ledger is decentralised.”
Centralised database? OK, so future valuations are very much subjective, and no-one has a crystal ball. But pretending you don't know the difference between a blockchain and a centralised database is not going to help your assessment of things. The XRP Ledger is decentralised.
— Matt Hamilton (@HammerToe) June 5, 2022
In another tweet, the Bitcoin enthusiast asked the former Ripple executive if he believes that XRP could reach $100 in the long run. In response, he said he doesn’t see why XRP can’t reach $100, since Bitcoin was once priced at relatively $0 back in 2009.
Matt Hamilton wrote, “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.”
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
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