Ripple CEO Says Network is Just One Participant in the Ecosystem

According to reports, Brad Garlinghouse the CEO of Ripple has stated that the XRP token isn’t just independent of Ripple, but it’s ecosystem hosts Ripple as one of a number of its participants. Garlinghouse made the comment during the “Ask me anything” session a session of the Q4 2018 sitdown along with Monica Long the Senior VP of Marketing at Ripple. The session called “Ask Me Anything with Monica and Brad” included several interesting opinions and price predictions for the coming year. One main question that came up during the show was the debated issue regarding whether XRP should be tagged as securities or not. XRP (XRP) Price Today – XRP / USD
NamePrice24H %
ripple
XRP(XRP)
$0.751-0.80%
Garlinghouse reiterated his position by saying: “I think it is clear that XRP isn’t a security. I think if Ripple shuts down, XRP trades on over a hundred other exchanges world will continue. Yeah, Ripple is an essential participant in the XRP space, but there are many other participants as well.” He further stated that even though he acknowledges the fact that the Securities and Exchange Commission has a difficult job when it comes to regulating crypto markets, Ripple will continually work with the SEC as well as other regulatory bodies around the globe to make sure that the XRP token is regarded as an independent digital currency separate from Ripple. Positive Outlook for Next Year It should be recalled that in the face of the many woes that have hit the cryptocurrency market this year, culminating in the “crypto winter,” XRP is one of the few tokens to have continued to post strong performances. This can be attributed to the benefits it gets from the growth of products like Ripplenet. The launch of Ripplenet has lead to the growth of volumes as well as the expansion of global user numbers for the network. Much of this growth can be attributed to Ripple’s rich project support community. The fact that Ripple remains the only digital currency to have an integrated payments system for big banks with its network can also be regarded as a factor. CCN recently reported that the XRP token overtook Ether this year to become the second largest digital asset by market cap behind bitcoin.

Garlinghouse’s Previous Predictions About Crypto in 2018 Pushed Back to 2019

While referring to an earlier prediction he made about 2018 (that the year 2018 will see a boom in the participation of digital assets due to institutional investments), Garlinghouse said that he had pushed back the prediction he made earlier to next year. The Ripple CEO also avoided giving a prediction for the almighty Bitcoin (BTC) going on to describe giving a verdict on BTC it as a tough task. Probably because of the persistent issue of manipulation that exists in multiple exchanges. When giving his final crypto predictions for 2019, Garlinghouse declared that he is expecting to see an increase in the rate of transparency in more related projects in the space, as cryptocurrencies move away from clandestine roots toward a better regulatory process and subsequent mass adoption. According to the Ripple CEO as a direct result of this 2019 will be the era that banks will start holding digital currencies on a large scale. Hence, promoting mass adoption.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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