Ripple CEO Brad Garlinghouse on XRP’s Enduring Value
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Utility Over Hype: Revisiting Garlinghouse’s Message
Ripple CEO Brad Garlinghouse has consistently highlighted that XRP’s true value lies in its practical utility within the financial ecosystem, rather than speculative trading or disrupting traditional financial systems entirely. These insights, originally shared in a past interview, have resurfaced on social media, capturing the attention of XRP enthusiasts. As we revisit these thoughts, XRP continues its quest for widespread adoption, with investors eagerly anticipating the U.S. Securities and Exchange Commission’s (SEC) decision on Spot XRP Exchange-Traded Fund (ETF) applications.
Garlinghouse’s Vision for XRP’s Practical Application
In a recent social media post, renowned XRP commentator JackTheRippler shared a video linking back to an interview where Garlinghouse discussed the immense potential of XRP. He emphasized that the success of any cryptocurrency hinges on addressing real-world challenges and cultivating a loyal customer base, rather than relying on mere hype.
During a 2017 interview on CNBC’s Squawk Alley, Garlinghouse highlighted that XRP was not merely designed for trading on exchanges. Instead, it was created to address critical financial needs, such as settling liquidity between banks. At that time, approximately $27 trillion sat idle in correspondent banking accounts worldwide, serving as a buffer for cross-border payments.
Garlinghouse envisioned XRP as a tool that could revolutionize cross-border payments by rapidly settling transactions, thus freeing up capital. “We utilize this digital asset, XRP, to meet banks’ liquidity needs,” he explained.
Ongoing Relevance of Garlinghouse’s Insights
While these statements were made several years ago, they remain pertinent to today’s discussions surrounding XRP. Its potential role in reshaping the global financial landscape is a key reason why many investors believe in XRP’s unique position among cryptocurrencies.
Countdown To the SEC’s Decision on Spot XRP ETF
Currently, much of the focus on XRP is directed towards regulatory developments, with investors eagerly awaiting the SEC’s decision on pending Spot XRP ETF applications. Following the approval of similar products for Bitcoin and Ethereum, many view XRP as the next logical candidate, given its status as the third-largest cryptocurrency.
Anticipated SEC Decisions and Their Implications
The SEC has introduced new standards to expedite the approval process for crypto ETFs, reducing the review period to 75 days or less. The decision on Grayscale’s application is expected on October 18, with subsequent decisions for 21Shares, Bitwise, CoinShares, Canary Capital, and WisdomTree scheduled in the days following.
The potential launch of a Spot XRP ETF could mark a pivotal moment, propelling XRP into a prominent position alongside Bitcoin and Ethereum within the traditional financial sector.
As of this writing, XRP is trading at $2.79.
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