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Best decision taken by Ripple [XRP]’s CEO is not adding ‘Bit’ or ‘Coin’ to the company name

Simran Alphonso

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"Bitcoin is controlled by China" says Ripple's [XRP] CEO!
Source: Pixabay

Ripple’s CEO Brad Garlinghouse became the dominant focal point before the press at the InterContinental Boston. He was met by Lee Simpson, Stifel Tech Analyst, who interviewed him further.

It’s overemphasized to say that Brad Garlinghouse has been on a Bitcoin trashing marathon. Brad, is a Bitcoin investor nevertheless he is the CEO of Ripple and has used the current bearish market to pull down the origin point of cryptocurrencies; Bitcoin.

Ripple’s CEO Brad Garlinghouse said that “Bitcoin is really controlled by China,” Garlinghouse also shared his opinion about BTC’s and XRP’s underlying technology, the blockchain, arguing that it “will not disrupt banks,” though “it will play an important role in the way our system works,” however “it’s a short-sighted view.”

Brad Garlinghouse, CEO of Ripple said:

“I’ll tell you another story that is underreported, but worth paying attention to. Bitcoin is really controlled by China. There are four miners in China that control over 50 percent of Bitcoin. How do we know that China won’t intervene? How many countries want to use a Chinese-controlled currency? It’s just not going to happen.”

Speaking about Ripple’s XRP, he described it as “the best digital asset for settlement.” Garlinghouse said that “Bitcoin today takes 45 minutes to settle a transaction,” whereas XRP takes four seconds to settle, he claimed. The comparison made between Bitcoin and Ripple has been undebatable considering there’s no one from Bitcoin’s side to debate.



Brad dictated a personal story to the crowd. He narrated that about two and a half years ago, one of the biggest banks in Australia stopped by his office, that is when an acquaintance told him that the smartest thing he has done is to not have ‘bit’ or ‘coin’ in his company’s name.

At the time of writing, Bitcoin is ranked at #1 on CoinMarketCap and Ripple positions at #3. The trading price of Bitcoin [BTC] is at $6476.19 and its market cap is at $110 billion while, Ripple [XRP] is traded at the price of $0.54 with the market cap of $21 billion. Both the coins, as of now are running red in the crypto-market.





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Simran Alphonso is a Journalist at Ambcrypto. She has a background in Financial Markets and holds expertise in Digital Marketing.

Ripple

Ripple’s XRP records relatively low 24-hour trading volume even as prices hold above $0.35

Guest Author

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Ripple's XRP records low 24-hour trading volume; even as coin trumps in third position
Source: Pixabay

The cryptocurrency market has been exhibiting a bullish trend even as Ripple’s XRP steered its way to major declines last week. The digital coin was hovering below $0.40, with very low price action in 2019. XRP was ranked as the third largest crypto-asset with a market cap of $16.03 billion and a price of $0.38, at press time.

However, XRP’s trading volume of $1.28 billion over the past 24-hours painted a different picture. The coin was trading relatively low in terms of its volume.

Ripple’s partnerships and developments did not seem to have had a significant effect on its native cryptocurrency’s trading volume.

The silver crypto, Litecoin [LTC], which is the fifth largest by market cap, recorded a 24-hour trading volume of $4.27 billion, which is nearly four times that of XRP. EOS, the sixth positioned digital asset, stood at a trading volume of $2.04 billion over the past 24-hours.



If the 24-hour trading volume was taken into account, XRP slipped to the seventh position, followed closely by Tron. TRX was closing in with a 24-hour trading volume $858 million.

According to the CoinMarketCap figures, XRP’s trading volume gained momentum on May 14, 2019, registering a massive $5.83 billion in 24-hour trading volume, priced at $0.32, as compared to $1.97 billion the previous day. However, the digital coin endured huge losses over the month as the volume sank soon after. XRP, however, has maintained its price above $0.35.





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