Brad Garlinghouse, known as the CEO of Ripple, is in the crypto news today for his warning sent to the media in which he said that a purge may be coming on the markets. The Ripple CEO warns and says that the vast majority of tokens which are currently on the markets will eventually plummet to zero.
Naturally, XRP does have its fair share of naysayers believing that it will be one of the cryptocurrencies which ends up going to zero. However, Garlinghouse remains adamant that the utility which is currently being created around XRP will be enough to propel it higher in the months to come and eventually years to come.
Still, the Ripple CEO warns that the sheer amount of cryptocurrencies out there is primarily the result of the hype which is surrounding the nascent technology. As this hype fades, he anticipates that the majority of these cryptocurrencies will plummet to zero due to their lack of actual utility and their inability to meet the needs by the customers.
“Anytime there is a new market, there are a lot of people that run into that market and try to show that they can solve a problem, they can deliver a customer need,” Garlinghouse noted, going on to say that 99% of these assets “probably goes to zero.”
If you are asking yourself whether XRP can avoid the market-wide purge, the XRP news today now show that there are a lot of analysts supporting XRP and believing that the token will be included in the event which Garlinghouse described as one that would “bring many cryptocurrency values to zero.”
However, the Ripple Swell conference is also coming which means that the price of XRP may rise in the coming days. At press time, it is at its low. This is why the Ripple CEO warns and explains that there may be a crisis period coming.
Aside from this, Garlinghouse is confident that XRP is the best financial system out there and that it has significant utility, especially when considering the inefficiencies of SWIFT such as its “transaction volatility” which Ripple believes is best solved by XRP.
The full interview with Brad Garlinghouse was shared by Bloomberg and can be seen below.
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