Ripple and XRP have been mainstays in the cryptocurrency market for a long time now, with the company known for its partnerships with several institutions while the XRP community continues to be one of the most active spaces in the cryptoverse. In a recent interview, Monica Long, Senior Vice President of Marketing at Ripple, spoke about XRP’s positives, as well as Ripple’s future plans.
Speaking to Trader Cobb, Long stated that the main focus of XRP is utility as “the success of any cryptocurrency comes down to how useful it is.” The VP of Marketing added that XRP is very fast, with the added advantage of increased scalability, when viewed as a settlement asset. In her words,
“XRP is very scalable, almost 50-100 transactions per second. The design and consensus also become faster because it does not face the same network issues as Bitcoin or Ethereum. When it comes to RippleNet however, the killer use case comes in serving liquidity on an on-demand basis.”
Long touched upon Xpring and the involvement of the broader cryptocurrency community in developing XRP’s use cases. She also clarified some points with respect to XRP’s inflow into the ecosystem accounting for a major share of XRP, owned by Ripple. According to her,
“RippleNet customers if they choose to use xRapid, which makes use of the XRP liquidity, don’t have to hold XRP to conduct processes. Hedge funds and other market makers provide that XRO and the liquidity is through cryptocurrency exchanges. We do sell Over the Counter to credit institutions.”
With regard to future developments, Long claimed that Ripple is focused on driving growth for RippleNet, as well as increasing institutional adoption. Apart from that, Ripple is also planning to partner with more financial institutions in other countries, as well as accelerate volumes on the internet. Monica Long encapsulated the organization’s plans by stating,
“We want customers to be thinking about how RippleNet can improve services in as many financial corridors as possible.”
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