XRP Rallies After Bullish Comment from RippleNet’s General Manager November 30, 2020 November 30, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsNovember 30, 2020 by Kelly Cromley

XRP Rallies After Bullish Comment from RippleNet’s General Manager

RippleNet’s general manager Asheesh Birla, while speaking in podcast conducted by Lend Academy, pointed to Bitcoin (BTC) as “pretty innovative alternative to gold,” and underlined that this year had demonstrated the need and possibility of having multiple tokens in the crypto domain that serve various purposes.

Birla stated that he trusts Bitcoin has not taken the course of payments, and because various crypto ventures aim to achieve different objective, the argument of staggering domination by Bitcoin is no longer valid.

“I think that the days when folks believed that there’s only going to be Bitcoin, I think, are over. I think it’s clear that there’s gonna be a lot of digital assets and there’s gonna be a lot more traditional assets that are gonna be tokenized as digital assets.”

The aforementioned comments were issued by the top level executive of RippleNet when the price of XRP was about $0.25. Since then, it has tripled, skyrocketing to $0.92 last week, before retracing 30% against the backdrop of a broad market selloff.

Even though XRP did not show any volatility at that time, Birla expressed his bullish view about the crypto domain. Specifically, he stated that crypto domain may rise “red hot again” after the 2018 crash.

He stated “I don’t see the traditional venture capitalists as interested as they were in 2017. But in my mind I couldn’t be happier in terms of innovation in the space.”

Chris Larsen, co-founder of Ripple, and CEO Brad Garlinghouse has expressed disappointment at the absence of regulatory transparency for Ripple in the US. Last month, SBI Holdings CEO and Ripple board member Yoshitaka Kitao stated that the blockchain powered real-time gross-settlement system is looking at the option of shifting its head-quarters to Japan.

Larsen trusts that authorities in the US follow “regulation through enforcement” guidelines and are awfully lagging in getting ready for the crypto based next-generation global financial system.
At the time of writing this article, XRP was trading at $0.6294, reflecting a gain of 2.5% in 24 hours.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.