In an interview with CNN, Ripple CEO Brad Garlinghouse discussed the recent scandal in the XRP community. Specifically, Ripple was accused of selling significant quantities of cryptocurrency in an attempt to manipulate the price. The XRP community is extremely unhappy and has threatened to take control of the project.
Brad Garlinghouse: We have no interest in lowering the price
In an interview, Garlinghouse said:
“In the XRP community, Ripple is the largest owner and we are most interested in the success of the XRP ecosystem.”
Regarding the allegations of dumping, he argued:
“We are clearly interested in a healthy and successful XRP ecosystem and we will never do that. We are working on building RippleNet and supporting other XRP based business collaborations, such as Dharma & Forte. The reality is that we have decreased sales in the quarterly volume, and the XRP inflation rate was lower than that of the BTC and ETH. “
When asked if Ripple can control the XRP price, Garlinghouse responded:
“In no case! Ripple cannot control the price of XRP as no whale controls the price of Bitcoin.
XRP is more functional as a payment solution than Bitcoin
Brad Garlinghouse further explained that the long-term value of any digital asset will be derived from the utility it delivers. He pointed out that XRP is about 1,000 times faster than Bitcoin and about 1,000 times cheaper:
“As for Bitcoin, I am a long-term investor and I think it has real utility as a store of value, it is digital gold. But if a BTC transaction takes 12 minutes on average to confirm and the cost exceeds $ 1 per transaction, it will not work as a payment solution. So, as far as payments are concerned, we believe that XRP is uniquely and extremely well positioned to solve this payment problem. “
The Ripple Price (XRP) is trading at around $ 0.25.
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