Ripple CEO Brad Garlinghouse believes the XRP exchange rate is subject to manipulation no more than Bitcoin. The specialist spoke this in his interview with CNN.
Thanks @jchatterleyCNN for having me on to address all the FUD about @Ripple and #XRP – it’s in our best interest to maintain a healthy XRP ecosystem, and I'm happy to put any rumors of the contrary to rest https://t.co/kmRypCqhxn
— Brad Garlinghouse (@bgarlinghouse) September 12, 2019
During the interview, Ripple CEO notes the digital asset market remains extremely speculative at the moment. However, people keep raising capital on the price difference of other assets, including traditional ones (for example, gold).
The head of the company also believes there is a lot of hype in this space. At the moment, the main attention of the public is paid to the project Facebook (Libra) although this stablecoin “lives” only on paper, the expert notes.
“I think hype often gets a heavy reality in many technologies,” the specialist notes.
Brad Garlinghouse believes that users should analyze the market to have a sound understanding of which projects will ultimately be useful. In particular, the head of the company spoke about his attitude toward the most capitalized cryptocurrency.
“I am committed to the long-term future of working with Bitcoin. It’s a digital gold,” he said.
At the same time, he noted that BTC transactions are time-consuming and expensive. In his opinion, people can’t consider the most capitalized cryptocurrency as an effective tool for making payments. In contrast to BTC’s potency in executing transaction, Brad Garlinghouse cited XRP capabilities.
Can Ripple Control The XRP Rate?
The specialist also explains periodic XRP sales. According to the crypto community, the latter calculated attempt to artificially lower the rate of the token. According to Brad Garlinghouse, all operations are aimed at creating conditions to support the Ripple ecosystem.
Despite this, the CEO denied the possibility of controlling the cryptocurrency rate. He drew attention to the high level of correlation of XRP with other digital assets.
“Ripple can control the XRP price any more than whales control the price of Bitcoin,” Brad Garlinghouse says.
According to the majority of crypto community participants, his answers to the questions were not sufficiently informative. Commentators agreed that Brad Garlinghouse was trying to leave a fact unrelated.
“If you want to put the rumors to rest, debate me live and answer the questions the community have put forth,” user under nickname Crypto Bitlord posts on Twitter.
-No FUD was addressed ✅
-You did not answer those questions ✅
If you want to put the rumors to rest, debate me live and answer the questions the community have put forth 🍿
— ฿ITLORD 01 (@Crypto_Bitlord) September 12, 2019
The specialist averred that the company is not interested in manipulating the price of the cryptocurrency . The head of Ripple also drew attention to the fact of the absence of discounts in selling XRP to institutions despite speculation. Large corporations wishing to start working with cryptocurrency are forced to purchase it on the common market.
Besides, Ripple has the right to impose certain obligations regarding the timing of cryptocurrency operations when acquiring a large amount of XRP from institutional investors. The company may require the buyer not selling assets for a certain period of time particularly.