Ripple (XRP) along with all other Bitcoin and Altcoin had a rough 2018, where most of the digital currencies bled to their lowest trading price at some point. The new year brings in new opportunities and the Digital currency world is all optimistic about the market again. The CEO of Ripple, Brad Garlinghouse believes 2019 Bulls might be around the corner and Ripple might become the driving force behind the bullish trends.
Brad Garlinghouse Bullish About 2019
The CEO of Ripple during an AMA session seemed optimistic and bullish about the market trends in 2019. He believes it’s only a matter of time when the major banks around the globe realize the potential in cryptocurrencies and start holding them like any other fiat currencies or bond.
Mr. Brad Garlinghouse statement comes in the light of several banks showing interest in Ripple’s xRapid. xRapid helps in faster transactions at minimal cost, making it a potential choice for future banking systems. Apart from xRapid, banking systems might look into exploring new fields for offering better services to the users and institutions.
When questioned about whether XRP is a security or not, Brad Garlinghouse replied in negative. He explained, Ripple cannot be considered a security, because even if Ripple network shuts down, the XRP ledger would still be functional. An excerpt from the interview,
“I think it’s very clear XRP is not a security. There is a whole number of reasons for that. If Ripple the company shuts down, XRP trades on over a hundred exchanges around the world and XRP would continue to trade. Ripple is one important participant in the XRP ecosystem but there are a whole bunch of participants.”
The Ever-Expanding Ripple Realm
Ripple market prices might have met the same fate as most of the cryptocurrencies, however, in 2018, Ripple added many new partners working on its RippleNet platform, the number of employees also increases when most of the crypto world was on a downgrading spree, laying off staffs left, right and center.
The Ripple network has seen many different use cases making it a preferred choice for cross-border transactions. Looking at the current market trend, the number of partners will increase further. Another major reason which could be in favor of XRP bullish trends is its addition to the Coinbase, one of the major crypto Exchange in the market, which could surely prove bullish for the XRP.
Ripple is also hoping US SEC to remove it from the Security bracket, if that happens, it would surely be a huge achievement for the currency, considering only Bitcoin and Ethereum is not considered as security at the moment.
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