Tanya Abrosimova
Independent Analyst
- Brad Garlinghouse is optimistic about Ripple's future, despite recent misfortunes.
- XRP/USD is sidelined on the intraday timeframe, waiting for triggers.
The most important issue on the cryptocurrency market at the current stage is to understand what is real and what is just hype,
Ripple CEO, Brad Garlinghouse, said in the interview with Bloomberg
He compared the cryptocurrency industry with digital miscue services, where the pioneer and the groundbreaker Napster soon gave way to more successful competitors, such as iTunes and Spotify that came to the market later and learned from Napster's mistakes. In this context, Ripple's CEO believes, that the next generation of digital assets will solve the problems that Bitcoin fails to address.
That's is the purpose of Ripple net - to make transactions, and money transfers fast, cheap and secure. Currently, there are over 100 financial companies working Ripple technology, which is great news for the company, but means little for the underlying currency, as banks and other Ripple partners do not need XRP to run the system.
Brad Garlinghouse stressed his positive attitude towards cryptocurrency regulation that will be beneficial to the industry in the long run and explained that Ripple has no problems with that, as the company operates within the regulatory environment.
Ripple price technical picture
On the intraday timeframe, XRP/USD is locked in a range with the upper limit of $0.83 and the lower limit of $74.00. The coin needs to take out one of those levels to gain momentum either towards the next resistance at $0.87, or the next support at $0.7316 (March 9 low).
XRP/USD, the hourly chart
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