- Kevin Rose, Early XRP Investor Says He Never Saw the Use Case of XRP
- Ripple XRP Remains Stable Above the $0.2000 Level But Trades Red Against Bitcoin BTC
Ripple News Today – Ripple may have created several solutions for the fintech industry over the years but there is a lot of pressure on the XRP token to thrive. XRP is the third-largest cryptocurrency per market capitalization no doubt but many members of the cryptocurrency community don’t believe that the token has many use cases. This is one of the reasons why Ripple is always jumping from one scandal to the other. Many people claim that Ripple only created the XRP token to enrich its executives to the detriment of retail investors. One of the earliest investors in cryptocurrencies has confessed that he never saw the use case of the XRP token.
Ripple News Today – “I Never Saw the Use Case of XRP”
The famous venture capitalist, Kevin Rose, took the lead in Google Ventures investment in 2013. During a recent interview with TechCrunch, Rose said that he believed the XRP token was going to be used in the financial sector. In his words;
“I understood that it was going to be used as a way to handle a settlement in some capacity. Although I never really saw the use case for Ripple as a currency.”
XRP (XRP) Price Today – XRP / USD
He isn’t the only one who feels this way about the XRP token. Many other prominent members of the cryptocurrency community have a similar opinion of the XRP token. Some see it as a stablecoin while many others see it as a security. While the XRP token is still surrounded by a lot of scandal and disappointment, Ripple’s developer network, Xpring has reported that the token is getting significant traction as a medium of exchange. One of Ripple’s executives, during an interview, said that XRP is now being used just like Bitcoin and Ethereum because it offers liquidity. Part of that statement was as follows;
“As market activities increased, network congestion on Ethereum (ETH) and Bitcoin (BTC) reached unprecedented levels—transaction fees for both assets exceeded 5x the norm. […] We saw evidence that many users, especially Ethereum users, maybe shifting to the digital asset XRP for exchange balance transfers.”
In other news, the XRP token has found relative stability above the $0.2000 level. It is now trading at $0.204700. It is up by 1.18% against the USD and down by 1.02% against Bitcoin BTC. The trading volume over a 24 hour period is $1,865,774,209 and the market capitalization is $9,029,887,883. The token will most likely reach higher highs before the end of the week as long as the bulls can gain more momentum.