- The world does not need numerous cryptocurrencies – Ripple CEO
- Crypto interference
In the recent episode of “Ripple Drop,” Ripple’s executives talked about the past and the future of Ripple’s XRP as the year 2019 is coming to an end. They went as far as sharing their predictions for the coming year and the whole decade. Their projections spell positivity for crypto but many crypto projects according to them will not stand the test of time.
Brad Garlinghouse, the CEO of Ripple shared his thought on the cryptocurrency industry, stating that it will face some consolidation. He claims that there is no need for numerous cryptocurrencies, and the year 2020 will be about “a migration to quality.”
XRP (XRP) Price Today – XRP / USD
He went thus: “I think you are gonna continue to see consolidation. Yeah, the world doesn’t need 3,000 plus cryptocurrencies out there, and I think the utility will bear out that there will be a migration to quality if you will.”
David Schwartz, the company’s CTO shares the same view with Garlinghouse about spotlighting quality use cases of blockchain projects. Schwartz gives an edge to those blockchains that can unravel a problem and enhance people’s lives.
“But I think we are going to more growth of blockchain into different use cases. I think the focus is going to be on, can you solve the actual problem?” he stated.
The SVP of Ripple’s investment wing Xpring, Ethan Beard, is swayed that blockchain and crypto could replace the universal financial infrastructure. Also, the SVP of customer success, Marcus Treacher, projects that blockchain will unite with other “core enabling technologies,” acting at the front of the fourth industrial revolution.
The SVP of marketing, Monica Long, states that she will see a related evolution of the industry and growth that will be akin to the early days of the internet. She also projects the arrival of the internet of value, the digital sphere where internet users can effortlessly exchange value with each other.
XRP price analysis – the daily chart of the XRP coin is displaying a clear slanted movement that XRP has faced in the past two weeks of trading. So far, the price has not been able to break above resistance at $0.20 but continues to be supported at the $0.1815 support level. Run by a downside 1.272 Fib Extension. A break above this price range will set the next trading price. A break below the support level at $0.1815 would send XRP into a bearish zone as 2020 begins to trade. Also, a break above $0.20 might see XRP steering back toward $0.25 as the New Year begins.