Connect with us

XRP

Ripple CEO discusses XRP prediction of last year, custody solutions and more

Priyamvada Singh

Published

on

Ripple Co-founder discusses XRP prediction of last year, custody solutions and more
Source: Pixabay

In a recent interview at the Singapore Fintech Festival 2018 held from 12th to 16th November, Brad Garlinghouse, the CEO of the leading blockchain remittance firm, Ripple, made several predictions regarding the state of the industry by next year.

Ross Leckow, General Deputy Counsel at the International Monetary Fund [IMF] and Garlinghouse conducted a mutual interview with both of them acting as moderators, giving the event a conversational flow. Here, Ripple chief began by revealing that he had predicted that banks would use XRP in their payment systems by this year. In his words:

“My prediction a year ago… I was here at the Singapore Fintech Festival and I got into trouble when I went back to office because the PR team said that I had overstepped by predicting that within a year – I predicted that financial institutions like banks would be using XRP in their payment flows.”

He continued the discussion by stating that his predictions have come true. Therefore, his strategy to predict the progressions in the industry is to look at the events that appear impossible or hard to imagine at present.

He also put forth opinions that were not exclusive to Ripple and XRP. Garlinghouse shared that one of the surprises that could occur by next year is the banks providing direct custody solutions for digital assets. In fact, the Ripple official seems to be sure of the fact that this might happen. In his opinion, custody solutions by banks sounds too conservative but is sure to happen by next year.



Garlinghouse backed the prediction with two pointers. Firstly, he stated that banks are profit-motivated institutions that will soon notice that the digital asset industry and exchanges are pulling huge profits. He added:

“And the second: Ross has made it very clear that regulatory clarity and frameworks enable banks and financial institutions to lean into these markets and I think we will surprise ourselves by this time next year.”

According to him, most of the progress and regulatory clarity is about to flow across the ASEAN markets wherein the banks would adopt progressive, forward thinking. Subsequently, he added that they will be the first ones to allow crypto-assets custody in their accounts.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

XRP

XRP shorts overtake XRP longs as USD shorts increase 85 percent on April 17

Akash Anand

Published

on

XRP shorts overtake XRP longs as USD shorts increase 85 percent on April 17
Source: Pixabay

The cryptocurrency market’s volatile behavior was reflected in the ‘buy-in and sell’ sentiments. Despite the bear market taking over again, analysis of the market shows that there are some silver linings. XRP, the third largest cryptocurrency in the market, has not had a fantastic start to 2019 and this was even shown during the recent bullish spike.

XRP was one of the worst performers among the top 10 club at a time when some of the other currencies saw double-digit gains and Bitcoin [BTC] broke the $5000 barrier. New analysis, though, points to the fact that there has been a significant rise in XRPUSD longs on Bitfinex, some even registering record gains. Reports from BehindtheLedger stated that:



“Some are discussing record high XRPUSD longs on Bitfinex. It’s good to look at the ratio of shorts to longs (or vice versa if you prefer) rather than just the longs though. Doing so reveals that shorts have increased more than longs in the past few days.”

At a time when the XRP shorts are on a high, the USD shorts were up by a massive 85 percent on April 17. The analysis from behindtheledger also admitted:

“This isn’t a price prediction and frankly, this indicator probably isn’t reliable

But it’s always good to look at both sides of the equation.”

XRP’s trade has been majorly influenced by developments in its realm with the last major claim coming from Coincheck as the organization provided over-the-counter trading support for Ethereum and XRP on its platform. The exchange had announced:

“ETH XRP has been added to the target currency for large OTC transactions! We are pleased to announce that ETH and XRP have been newly added as target currencies at the Large OTC Trading Service, which has started on April 1, 2019.”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending