Brad Garlinghouse – the CEO of Ripple Labs Inc. says that XRP (XRP) is being acquired and HODLed at an increase rate. During a live Ask Me Anything (AMA) session on YouTube, the CEO said that the next quarterly report of the firm on how much XRP they sold would disclose the sharp, significant increase in interest.
Details of the AMA Session with Brad Garlinghouse
Garlinghouse said that the firm is witnessing institutional participation in purchasing XRP, adding that the third quarter of this year will be a record of institutional participation in purchasing XRP and interest in HODLing XRP.
The CEO also talked about transparency in the digital currency world, addressing the openness of Ripple Inc. regarding the fact that it owns 60 percent of the overall supply of XRP, and about 91 percent of them are presently locked in escrow.
The CEO said that the firm would keep focusing on “are we solving real-life problems?” He said they want to ensure that they are creating a transparent XRP ecosystem as possible, adding that he believes that they have been more transparent and proactive than other top players in the industry.
Bigger Players Are Starting to Make a Move into the Crypto Space
As for institutional investment in the digital currency world at large, the CEO said it seems like top players are beginning to make their move into the industry. Garlinghouse said: he thinks “the announcement from Intercontinental Exchange and their planned trading platform called Bakkt” is a big deal and it is indicative of where the world is headed. He said more players would come into the industry, and this will further increase the adoption and use of digital currencies.
XRP (XRP) Price Today – XRP / USD
At the time of writing, XRP is trading at $0.3243 after an increase of less than one percent over the past twenty-four hours. XRP currently has a market cap of $12.82 billion and a trading volume of $203.82 million over the past twenty-four hours.