Copyright International Business Times
Renowned cryptocurrency analyst Levi Rietveld has publicly criticised crypto influencer Jake Claver's bold prediction that XRP could reach $1,000 (£760) per token by the end of 2025. The disagreement escalated when Rietveld issued a direct challenge to Claver on social media platform X, proposing a $1 million (£760,345) bet. Rietveld declared: 'You game? It's time to put your money where your mouth is!' The bet stipulates that Claver must pay Rietveld $1 million if XRP fails to reach $100 (£76) per token by the year's end. Conversely, if XRP hits or exceeds that target, Rietveld has agreed to pay Claver the same amount. Following the challenge, Rietveld revealed in multiple posts that Claver declined his wager. 'I knew this would happen because I think he doesn't believe XRP will hit $1,000,' Rietveld stated. The exchange highlights a growing scepticism within the crypto community about the feasibility of such extreme forecasts. The Broader Context: XRP Market and Volatility The recent spat comes amid heightened speculation around XRP, which has experienced notable volatility alongside broader market fluctuations. Currently, XRP trades around $2.42 (£1.84), with a market capitalization of approximately $145.7 billion (£110.7 billion). While adoption and liquidity remain steady, the idea of XRP reaching $100 per token — implying a market cap of over $6 trillion (£4.5 trillion) — appears unrealistic. Such a valuation would surpass major tech giants like Nvidia and Apple, making it highly improbable in the near term. Claver's Legal Troubles and Credibility Concerns Adding complexity to the debate, Rietveld pointed out that Claver has faced legal issues related to alleged document forgery and wire fraud. On Sunday, he posted on X that Claver was involved in 'shady business' and was sued for misappropriating a company's intellectual property and making false statements to third parties. The lawsuit was filed by Verivend, a payment processing platform that helps businesses raise capital. Verivend accused Claver of misusing its name and intellectual property, damaging the company's reputation to cover up a failed attempt to raise funds for other ventures. Claver reportedly admitted fault and settled the case outside court. Rietveld shared this information because many followers who trusted Claver with their XRP holdings might be unaware of his legal history. 'If you know this happened and you decide to trust him with your money, that's your choice, I hope it all works out for you,' Rietveld wrote. Rietveld's Efforts Point to Accountability Rietveld's bet against Claver could indicate he is seeking accountability for hollow optimism. He emphasizes evidence-based XRP price predictions and urges influencers to back their claims. Rietveld also recommended investors avoid being swayed by such predictions lacking credible analysis. In a separate post, Rietveld expressed optimism that XRP could see a significant rally once the US government shutdown ends. He also highlighted recent developments, including Ripple's $40 billion (£30.4 billion) deal with Mastercard, which could integrate XRP into mainstream financial infrastructure. However, despite recent surges, analysts warn that the market may have become "too excited" about the Mastercard partnership, potentially leading to overvaluation. Many believe the recent price increase was driven more by speculation than fundamentals. Disclaimer: Our digital media content is for informational purposes only and not investment advice. Please conduct your own analysis or seek professional advice before investing. Remember, investments are subject to market risks and past performance doesn't indicate future returns.
