David Schwartz: "XRP $50 Forecast is a Conspiracy Theory"...Countering Extreme Bullish Claims

▲ XRP (XRP)

David Schwartz, the honorary Chief Technology Officer of Ripple, humorously deflected criticism directed at him, once again standing at the center of debate within the XRP community. Schwartz, one of the early architects of the XRP Ledger, has frequently clashed with some XRP supporters who demand strong price predictions.

According to U.Today on May 20 (local time), when an XRP Ledger developer asked what else he was accumulating besides XRP, Schwartz briefly replied, "Haters." U.Today reported that Schwartz has faced criticism from some parts of the XRP community who desire extreme bullish forecasts, despite him being an early architect of the XRP Ledger.

Criticism against Schwartz primarily comes from within the XRP supporter base, rather than from competing developers or Bitcoin (BTC) maximalists. U.Today explained that while some staunch supporters push aggressive price predictions or conspiracy theories, Schwartz has maintained a realistic attitude, viewing the market cautiously.

In recent months, Schwartz has actively responded to rumors and criticisms surrounding his personal investment decisions and the operational realities of the XRP Ledger. Earlier this month, he revealed that he sold most of his XRP holdings at approximately $0.10 because he didn't believe XRP would reach $0.25 in its early days. He also disclosed that he sold 40,000 Ethereum (ETH) at $1.05 and disposed of most of his Bitcoin holdings between $1,000 and $7,500.

Schwartz recently stated that he is not comfortable predicting XRP reaching the $50 to $100 range, which sparked significant debate within the community. He also dismissed claims that Ripple has secretly allocated XRP contracts to institutional elites and that it has clandestine collaborations with governments.

The controversy intensified when a post made by Schwartz in November 2017 resurfaced in April this year. At the time, he mentioned that if XRP were to handle large-scale global transactions, it "would not be ridiculously cheap." Some XRP holders interpreted this statement as a price guarantee, but Schwartz recently clarified that the remark was not a price prediction. U.Today reported that Schwartz, who is tasked with providing technical explanations, is under constant pressure in the cryptocurrency ecosystem where financial emotions play a significant role.

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