Ripple’s Brad Garlinghouse Finally Speaks Up About The Facebook Cryptocurrency, Libra

Ripple News Today – The entire cryptocurrency community has been talking about the Facebook cryptocurrency, Libra for days now per our previous Ripple news. Some headlines are about what this new competition means for Ripple while others are about the authenticity of Libra. Well, one thing that almost everyone agrees on is that this cryptocurrency is going to pose a threat to payment settlement coins, the chief of which is XRP. Now, the CEO of Ripple, Brad Garlinghouse, has broken the silence and made a comment about what this Facebook cryptocurrency means for Ripple, XRP, xRapid and the entire cryptocurrency market. In our Ripple news and XRP news today, we are going to analyze Garlinghouse’s comments.

Ripple News Today – XRP News Today – Brad Garlinghouse Breaks The Silence On Facebook’s Libra

Contrary to popular opinion, Garlinghouse believes that Libra is going to lead to a boost in adoption for xCurrent and XRP. During the Brainstorm Finance conference which was hosted by Fortune in Montauk, N.Y, he said;

“This is going to be a record week for Ripple. It has absolutely catalyzed contract activity,” Garlinghouse said. “This has been a call to action.”

According to him, the launch of the Facebook cryptocurrency will lead to an increase in the adoption of xCurrent. Ripple xCurrent is the cross-border messaging service that was developed by the company to make remittance faster, cheaper and more effective. Soon, banks will see the importance of using xCurrent and XRP for global remittance. When the Libra token is released, the billions of users in Facebook will be able to use it to make payments through the social network and WhatsApp. Traditional methods of sending money around the world like Western Union and MoneyGram will become obsolete. Banks will realize that they are better off without SWIFT. He continued;

“I will send a case of champagne to David Marcus the guy who runs Libra. I think it’s really hard for people in these economies to say what is real and what is noise. it was a big deal for Ripple, and people soon will believe it was bigger deal for the cryptocurrency markets overall.”

Ripple News Today – XRP News Today – Ripple Is The Future – Garlinghouse Talks About The MoneyGram Deal

Another big Ripple news that has been trending in the cryptocurrency space is the company’s acquisition of a 10% stake in MoneyGram. You see Ripple set aside $50 million to buy part of MoneyGram and have them use its xRapid protocol to send money across borders. While the news led to a 168% surge in MoneyGram’s shares, XRP only experienced a brief surge. According to Garlinghouse, this was due to the “bullshit and noise surrounding blockchain technology. Many unspecified companies use the term blockchain as frankly catnip for investors, for marketing. Ripple, on the other hand, is focused on very specific use case. It is around transaction banking and liquidity management.”

XRP (XRP) Price Today – XRP / USD

# Name Price24H %
3
ripple
XRP(XRP)
$0.270
-1.95%

The level of confidence for Garlinghouse is encouraging to the entire XRP army and cryptocurrency community as most people believed that the Facebook cryptocurrency was going to be the end of XRP and even Bitcoin. If Garlinghouse’s analogy is correct, there is going to be a spike in adoption of xCurrent, xRapid and subsequently XRP.

What do you think about the XRP news today? Share your thoughts about the future of XRP in the comment section below.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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