Ripple CEO Says Demand For Its XRP-Powered ODL Product Has SkyrocketedApril 29, 2022 10:33 pm
Ripple CEO Garlinghouse recently mentioned in an interview that Ripple is already operating in a world where its as if it had lost.
What this means is that the current price of XRP has already accounted for a loss against the SEC which makes it a perfect buying opportunity for investors who believe in the long term future of Ripple.
As of right now, there is no liquidity of XRP within the United States as the trading of the assets has been stopped and frozen on the majority of crypto exchanges.
If Ripple does actually end up winning against the SEC, the price would end up reacting tremendously to the upside as it would have exceeded all expectations.
Currently, the United States is basically the only country in the world that considers XRP a security while regulations in all other countries disagree.
As a result, demand for Ripple’s XRP-Powered ODL product has continued to skyrocket around the world.
“The only country on the planet that thinks XRP is a security is the United States.”
— Bloomberg Crypto (@crypto) April 27, 2022
The Ripple CEO was also asked how those customers outside the U.S. are using digital asset XRP.
“The demand for our core product, which uses XRP to facilitate these cross-border payments, grew 8X year over year.
So, from Q1 last year to Q1 this year, it grew 8X, and that’s off a base already, measured in the billions. So, from our point of view, demand has skyrocketed.“
On April 15, Garlinghouse explained why his firm uses the $XRP token for payments, why he is “incredibly bullish” on crypto, and why Biden’s executive order about crypto regulation is “very significant”.
Garlinghouse, who was in France for Paris Blockchain Week Summit (PBWS), made these comments during an interview with CNBC.
Garlinghouse also continued to talk about his optimism for the crypto industry in general due to factors like the current state of the global economy.
One reason was the rampant inflation that has been affecting countries globally which has impacted the United States hard at a rate of 8.5%.
This was the highest record that the country has seen for decades which its now forcing institutional investors to diversify more of their portfolios.
Additionally, it has already been recognized by major players that this is more than just speculation as real use cases have already been achieved that would disrupt traditional industries.
Live from #PBWS2022, @bgarlinghouse sat down with @cnbc's @ryan_browne_ to talk crypto regulation, Ripple's global traction and use cases that he sees growing across the industry. pic.twitter.com/ouQYhY3B5n
— Ripple (@Ripple) April 14, 2022
“The irony is [that] the only country on the planet that thinks XRP is a security is the United States… The case has gone well… the SEC in our judgement has certainly moved slowly.
Typically, in these situations ,when the SEC brings the case, they want to move quickly. They have been dragging their feet.
“Gary Gensler recently publicly that justice delayed is justice denied, and unfortunately justice is being delayed here by continuing efforts by the SEC to push things out.”
“Despite that fact, Ripple had a record year last year. We continued to grow very quickly across our major product groups.
Even Q1 was a record for us. Now, unfortunately, that growth is almost all coming from outside the United States, and we are in hiring more and more people outside the United States, but our customer base now is about 95% non US payment companies.”
— XRP_Cro (@stedas) April 28, 2022
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