Advocates and participants in the sector have rallied around XRP after its run-in with the US Securities and Exchange Commission (SEC). Many others feel differently about the asset, and it hasn’t even returned to its prior all-time highs.
Some market watchers are pessimistic, while others are certain that XRP has more room to grow in the future. Notable remarks made by Ripple’s CEO in an earlier interview provide credence to the positive attitude.
Garlinghouse brought attention to the role of XRP, a cryptocurrency that enables worldwide transfers, in the larger multi-trillion dollar payment sector by stating,
“Some investors are curious about the future of XRP, and we are helping to solve an issue that might cost several trillion dollars by incorporating XRP into these flows. A lot of people will want to buy XRP because of it.”
As a network, Ripple has to pivot, according to Garlinghouse. According to Amazon’s history, the company first focused on books before expanding into other product categories and finding solutions to other issues.
He went on to say that Ripple’s primary goal is the worldwide resolution of massive issues related to payments and liquidity.
The expansion of the network depends on evaluating the possible applications of XRP, and Garlinghouse discloses that part of its budget is devoted to this cause.
“We are actively and candidly investing in additional XRP use cases. You may expect some markets and others that focus on consumers. However, we will collaborate with or assist entrepreneurs in developing solutions that use these assets in order to make the most of their relative performance in the digital asset market. “
Jamie Dimon, CEO of JPMorgan Chase, has maintained a gloomy stance on Bitcoin and the cryptocurrency industry as a whole; nonetheless, he responded to Dimon’s critiques by bolstering his own position. An asset’s worth is directly proportional to its practicality, according to the Ripple CEO. There will likely be a rise in the token’s value due to its usefulness.
Although the new month has just begun, the cryptocurrency is off to a strong start. Cryptocurrencies are riding the wave of Bitcoin’s price increase. One token that has managed to recover from daily and weekly losses since the previous day is XRP. In March, XRP might reach new price levels after a strong showing in February (12.26 percent rise). As of this writing, the press price of XRP is $0.65.
Also Read: Berkshires ignites another rumor of a covert stock purchase
