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‘Ripple and XRP are two different animals’ – Says Cory Johnson

Sthuthie Murthy

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'Ripple and XRP are two different animals' - Says Cory Johnson
Source: Pixabay

Cory Johnson, Ripple’s chief marketing strategist busted the most common myth and confusion about Ripple and XRP which is most often considered as the same. This is not true, ‘Ripple and XRP are completely different but they are often confused’ says Cory in an interview with The Street where he broke the differences between Ripple and XRP.

He quoted:

“Ripple is an enterprise software company and XRP is a digital asset that trades on its own. XRP is owned by lots of people in lots of places. We happen to own a lot of XRP – we own a lot of cash, chairs, and computers – but the company is called Ripple and we sell software.”

The Ripple’s team also stated highlighting the fact:

“Our success is not tied to the performance of XRP.”

XRP has declined by 75% roughly compared to earlier prices this year. It is slowly picking up the pace and is coordinating with the market momentum currently as an uptrend is witnessed since few days. Ripple [XRP]’s volume has gone up by 31% over the week and is currently trading at $0.644. The market cap has also evidently gone up and is worth $25 billion.

Oliver, a Ripple enthusiast says:

“Ripple is now making it clearer by the day that they are disassociating from XRP. This will fuel a sell-off while Cory is becoming a fan favorite.”

Mohamad, an XRP holder says:

“I didn’t like the way he did it, people are investing in XRP and not in ripple so he should show them the strong relationship between the two and how ripple is working to integrate XRP more in their solutions…. people care about XRP price and not ripple quarter.”

Cory commented on the extreme fluctuations and the huge decline over a long duration saying it is a market dynamic that can’t really be understood or analyzed. Ripple, the software company has had the best quarter with more dealerships, more partners, more banks using their software than ever before for 100 banks and production. Using Ripple’s software and the prices of XRP falling, Cory says, are not co-related but the team certainly believes if their business does well and other businesses have success, they will use XRP and it will start to create an intrinsic value that the other cryptocurrencies or tokens don’t really have.

Cory concluded on a positive note:



“We are gonna like it or not like it but, XRP and Ripple are two different things. XRP is its own thing, it’s a digital asset with a lot of things happening. We would like to see it do well, we have 61 billion reasons to see it do well and I hope it does over the time.”

Eric Goulding, a speculator of the market tweeted:

“And yet they keep promoting XRP like crazy and some of their partnerships are piloting XRP at this time. You make sense… He just said they have 61 billion reasons why they want it to do well. Good enough for me;)”

Steven Carrejo commented on a forum:

“The bears are gonna aim for the right shoulder. Don’t let them get it their way XRP. Keep going up! Fomo time! This is a better explanation. It gets into the XRP Ledger.”





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

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1 Comment

1 Comment

  1. Avatar

    Ayush

    April 15, 2018 at 1:52 AM

    I am little bit upset they way Cory have addressed the relationship between Ripple and XRP.

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XRP

Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?

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Hash XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?
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Opinion: Bitcoin, the first cryptocurrency, has had over ten years to grow. However, other altcoins did not have the liberty, due to which Bitcoin exerts its dominance over almost all altcoins in the ecosystem, be it Ethereum, XRP, or Cardano. The price of altcoins generally tends to rise if Bitcoin’s price surges rapidly. The same can be said about the downtrend as well, which is why altcoins are said to be coupled with Bitcoin.

However, the recent buzz on crypto-twitter is that XRP is on the verge of decoupling from Bitcoin. A Twitter user @XRPMOONSHINE tweeted:

“DO ME A FAVOR OPEN UP A BTC/USD CHART AND AN XRP/USD CHART. THEY HAVE DECOUPLED AND ARE MOVING DIFFERENTLY.”

In a very general sense, the comparison of the price change of XRP and BTC gives a crude understanding of whether the prices have actually decoupled or not. Hence, the daily chart attached below shows the price of BTC and XRP against the US Dollar and extends from August 2018 to April 2019. The price of XRP seems to be following a lag from the price of BTC and do not necessarily mean that it has decoupled.

However, there are timeframes where the price of XRP has moved completely unrelated to that of Bitcoin. For example, the meteoric rise of XRP from September 18 to 22 was far higher than the price pump of BTC over the similar timeframe; but the drop of XRP from November 18 to December 16 was exactly the same as that of BTC’s.

Furthermore, XRPMOONSHINE suggested that XRP price was being manipulated. He tweeted:

“It is being manipulated to keep it from rising. For example look at XRP/BTC pair. Keeping it under the down sloping resistance from .80 in September. Thats what I mean by Suppressed, Although im expecting a fairly large move to the upside before 4/24/19.”

The “idea” of the price of XRP being manipulated is not unpopular within the XRP ecosystem as Peter Brandt, a famed trader, suggested the same in one of his tweets.

Brandt tweeted:



Conclusion

XRP may have started to decouple from Bitcoin, but it surely hasn’t decoupled completely. The notion that XRP is being manipulated to keep its price below certain levels can also not be confirmed without proof.





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