XRP News Today – Top Headline for Ripple XRP, November 8th

 

  • 99% of Digital Assets Will not Stand the Test of Time – Ripple’s CEO 
  • Ripple’s CEO Criticizes Swift Transaction Volatility

 

Ripple’s CEO Brad Garlinghouse recently predicted that about 99% of all cryptocurrencies will probably go to zero. He stated that there are too many cryptocurrency projects. Garlinghouse alleged that there are too many cryptocurrencies in the market, predicting that only 1% of all cryptocurrencies will stand the test of time.

He further explained that just a few crypto projects will be unique and grow considerably in the decades since they will be focused on finding solutions to real problems for real customers, all growth about cryptocurrencies are caused by market hype. Garlinghouse believes that the increasing number of digital currency is due to the hypes around the crypto ecosystem.

Currently, there are more than 3,000 digital assets that trade daily, Garlinghouse claimed that only a few of these assets will be able to meet customer requests, claiming that a huge majority of these digital assets will likely go to zero. He went thus: “Anytime there is a new market, there are a lot of people that run into that market and try to show that they can solve a problem, they can deliver a customer need.”

Ripple’s CEO Criticizes Swift Transaction Volatility

Garlinghouse also commented on Society for Worldwide Interbank Financial Telecommunications (SWIFT), The CEO criticized SWIFT stating that the so-called “transaction volatility” simply means a “calculation of time and volatility.” 

XRP Price Prediction – Ripple Price Prediction

Garlinghouse claimed that the XRP token has “1/10th the volatility exposure of a typical fiat SWIFT payment.” Previously in June, SWIFT announced a successful trial of prompt cross-border transfers in Asia stating that the prompt payment pilot performed payment taking up to 25 seconds with the fastest taking 13 seconds. SWIFT will permit distributed ledger technology firms to use its GPI platform.

Prominent payment platforms are adopting Ripple’s ODL, in a recent press release, Ripple emphasizes on Viamericas, FlashFX, goLance and Interbank Peru. Brad states that FlashFX is one of the major partners in opening up the ODL passages for Australia, he also made mention of goLance, a freelancing platform. Brad stated: “A lot of their freelancers are based in the Philippines, and the average transaction size ends up being less than $100. It’s pretty transformative for goLance’s business. It makes joining the goLance’s network more compelling, and they get more freelancers joining.”

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.251
-1.70%

When Brad was asked about the momentum and interest from existing customers to use ODL, he stated that: “I’m a correspondent bank. I’ve got customers around the world, and I want to serve the Philippines. And I don’t have a correspondent banking relationship there. And we can say to them, look, one path is that you can sign up a correspondent banking relationship and you pre-fund, and you have that quarterly overhead of compliance requirements and all the things that go with that regulatory point of view. Or you can shoot off payments in real-time.”

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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