Chief Executive Officer of Ripple, Brad Garlinghouse spoke to CNN Network’s Julia Chatterley during her TV program, Crypto Crazy. He spoke about the price of XRP, threats and much more.
It was long expected to get a statement from an inhouse member of the crypto exchange. The interview started with Garlinghouse talking about asset speculations. Garlinghouse pointed out that people always try to use assets they can speculate and profit with when possible. It can either be Gold, oil, Bitcoin, or Ripple as there’s no difference. However, he revealed that the long-term value of any asset is about use cases and utility, and not just speculation.
What did the CEO have to say about XRP prices and the threats?
Brad Grlinghouse also spoke about the level of control Ripple has over the price of XRP. In his interview with CNN he said “Ripple, as the largest owner of XRP, is the most interested party in the success of XRP. Thus, despite accusations dumping XRP on the network isn’t something our best interest. We’re interested in a healthy, successful ecosystem. And so, we would never do that and we have taken steps to lock up most of the XRP we own in escrow. Essentially, we can’t touch it.”
“Ripple can’t control the price of XRP any more than whales can’t control the price of Bitcoin. Nobody is in a position to manipulate XRP prices,” he added.
Garlinghouse pointed out that Ripple is most interested in the development of the XRP ecosystem. The former Senior VP at Yahoo backed his claim by mentioning that sometimes partners purchase XRP from Ripple at market value. They are usually large amounts sold at discounted prices with a lock-up that prevents them from dumping XRP on the network. He advised investors to look at the utility of an asset before taking a decision.
Accordingly, he pointed to their partnership with Coil for micropayments, you can read more about that here. Stating: “So the next time you’re reading a story on the Financial Times and you hit that paywall it means you hypothetically just pay a dime, a quarter, 50 cents. But today that’s a pretty hard problem. And companies like Coil are going to use XRP for those micropayment transactions”.
Skeptical over Libra
He was also asked about Facebook’s Libra where he said there isn’t much to say about it for the main time. He said: “it remains an unreleased project, a white paper and nothing more, at least currently. Thus, assessing how Libra can affect the cryptosphere is premature right now”. Although, he said that the attention and number of healthy debates brought to the industry was a good thing.
The second part of the interview can be watched here.