Envision Ripple (XRP) at a Trillion Times Larger: Insights from BankSocial’s CEO

Summary

• John Wingate, the CEO of Bank Social and a Hedera developer, made a very optimistic comment on X regarding HBAR and XRP.
• Though he mentioned thinking ‘1000000000x’ big concerning XRP, he later clarified that this does not directly correlate to its price.

Just had a meeting with the team from Ripple.

It was an excellent meeting—likely the best in the history of international settlements. Hedera and HBAR remain integral to our strategy.

And now, so does XRP.

You’re not envisioning it LARGE enough. Envision it LARGE – then multiply that by 1000000000.

— John Wingate

With the increasing enthusiasm and activity from the XRP community, his statement gained traction and quickly became a prominent topic on Crypto X over the past day.

Despite lacking specifics about a potential collaboration among Ripple, Hedera, and Bank Social, he called his meeting with the Ripple team “the greatest in international settlements history.”

In a later response, Wingate clarified that HBAR would facilitate backend operations (state checks – app nets), while XRP would handle international money transfers in specific regions. The BSL would focus on loans, lending, staking, and social governance within the DAO.

The numerous zeros in Wingate’s initial statement sparked curiosity among XRP investors, leading some to wonder if he was alluding to a price target for the asset. However, he swiftly denied this, stating he does not make price forecasts. Instead, he explained he was referring to the volume of on-chain transactions in comparison to current usage.

I never discuss price – those zeros pertain to the volume transacted and on-chain transaction volume related to present usage.

I do not make predictions on price.

— John Wingate

While Wingate did not intend to address XRP price forecasts, if you’re curious about this topic, additional insights are available, including some of the more outrageous estimates ranked by ChatGPT.