Ripple XRP has arguably been one of the best performing cryptocurrencies since the turn of the year. Even though some members of the crypto community will continue to talk down on it because of its centralized nature, XRP has lived up to the expectations of its project founders.
Speaking to Bloomberg at the Singapore Fintech Festive, Ripple CEO, Brad Garlinghouse revealed what has been the strong point of the altcoin and what can be expected within the next twelve months.
“XRP is solving real problems, both how Ripple is using it to solve the cross-world of payments problem, selling those technologies to banks and financial institutions,” he said. It is because of this real use case that XRP has outperformed most of the other cryptocurrencies who may not boast the same market value.
RIpple XRP’s value on this day last year was $0.2, meaning it has recorded over 100% increase with a press time value of $0.51 and the CEO expects this trend to continue.
What will drive XRP to the next Milestone?
According to Brad, the key developments that will drive XRP’s growth is the way “more and more companies are getting into the XRP ecosystem.” Most of these companies are considering how to use XRP to move value around since “XRP is a thousand times faster than bitcoin and a thousand time cheaper than Bitcoin.”
The fact that Ripple has continued to “sign over two production contracts per week” shows that the momentum has kept building and it will only get better from this point for the startup and those who are embracing their solution.
On the issue of Regulation
A lack of regulation in the space has led to a disparity in the industry. Financial institutions and banks remain Ripple’s biggest adopters, but there has been less involvement of these institutions in the general crypto space.
When quizzed on this, the Ripple boss disclosed that things are already turning around as regulators continue to come to grip with space. Once regulators provide “clarity about how they are going to deal crypto and the blockchain,” more companies invest with certainty.
The parent company of the NYSE plans to launch a crypto exchange Bakkt, and this is a good sign that more institutional involvement will definitely happen as time goes on according to Brad.