Brad Garlinghouse, CEO of Ripple (XRP), has predicted that 99 percent of cryptocurrencies would be worthless in the near future.
Ripple CEO Claims that Most Cryptocurrencies will Die Out
Garlinghouse, who is the acting CEO of Ripple, the company that has developed XRP, believes that only those coins with actual real-life use cases have a chance to survive. In other words, 99% of cryptocurrencies will be worthless in the near future, according to him.
As mentioned, this is far from the first time that Garlinghouse has made such claims. But, while he has no faith in the majority of altcoins, he continues to praise XRP. He recalled the long road that the coin has traveled in recent years.
At first, XRP was used for illicit cases, such as the infamous SilkRoad. After that, the era of speculation came, only for the coin to finally be in the period where its real use cases are emerging.
Garlinghouse also notes that this is the reason why XRP and Ripple have always focused on a specific customer, and on solving a very specific problem. That way, the project was able to advance in a single area, but surpass any competition which was spread too thin due to the lack of such focus.
SWIFT is more volatile than XRP
Garlinghouse further explains why Ripple would be a better alternative to SWIFT, the leading messaging network for financial institutions. According to Garlinghouse, SWIFT is even more volatile, since it requires several days to settle each transaction.
In comparison, XRP transactions are done within seconds, which is Ripple’s largest advantage, as it reduces volatility risks.
Garlinghouse also spoke about XRP’s unimpressive price performance, stating that the company focuses on the price’s movement in the long-term. He believes that the surviving coins’ prices will reach their true potential, but that may take another decade.
Even so, Garlinghouse seems confident that bullish trends lie in the future.
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