- Ripple XRP is a Transfer Medium And Not a Cryptocurrency According to ex-Google Employees
- Ripple XRP Maintains the Support at $0.2000 and May Hold this Level for the Rest of the Week
Ripple News Today – Ripple’s XRP is still one of the most controversial tokens in the cryptocurrency space. Over the years, there have been conflicting opinions about the token. Some people believe that the token is a security, some believe it is a cryptocurrency and some believe that it is a stablecoin. Recently, the former head of Google Venture Capital, Kevin Rose, said that Ripple’s XRP token is a transfer medium and not a currency. He gave this opinion of Ripple during an interview with TechCrunch.
Ripple News Today – Ripple Isn’t a Currency, It’s a Transfer Medium According to Kevin Rose
Kevin Rose took point during Google Venture Capital’s negotiations with Ripple years ago when they were interested in investing in Ripple. Rose, who also happens to be one of the earliest investors in Ripple, said that Ripple got the attention of Google Venture Capital by promising to revolutionize the global financial industry with its payment routing system that is based on blockchain technology. Google Venture Capital invested in the company but the investment amount was never made public. Rose said;
“Early Ripple reminded me of a company that could come in, put some standards in place, and have these uptime guarantees and work with commercial banks and creates a backbone that was based on blockchain. The excitement was around creating something that commercial banks could understand and get comfortable with because they weren’t comfortable with just random blockchain technology created by anonymous founders.”
XRP (XRP) Price Today – XRP / USD
Rose explained that his interest in XRP when Ripple approached them in 2013 has faded over time. He said that he currently doesn’t think the XRP token is ever going to be a viable currency that will achieve a global reach. However, he acknowledged that Ripple is doing a great job as a transfer medium despite its inadequacies as a currency. In his words;
“I could see something like a Square Cash moving to some type of stable coin underneath the covers, to where we’re still using it today, and it’s connected to our bank accounts, and all of a sudden, all the settlements are happening on the blockchain. Things like that will most likely happen in a really simple and easy-to-use interface by a very trusted brand.”
In other news, the Ripple XRP token is trading at $0.204768 which makes it up by 0.39% against the USD and up by 0.09% against the price of Bitcoin BTC. The token has formed strong support at $0.2000 with a trading volume at $1,914,321,252 and the market capitalization is $9,032,921,346.