The world has no use for over 2,000 cryptocurrencies: Ripple’s CEO Brad Garlinghouse
- No one coin will rule the world, but the world doesn’t need 2,000+ digital assets, according to Garlinghouse.
- Ripple stays above $0.1800, unable to stir action in the direction of $0.2000.
The CEO of Ripple, Brad Garlinghouse, in his 2020 forecast, believes that the coming year will see the world’s leading banks offer, hold and trade cryptocurrencies. Moreover, the larger team at Ripple says that we will an increase in government-backed digital currencies.
An interesting quote by Garlinghouse states that 2020 will be the year of survival for the fittest. Some crypto companies will exit while others will thrive. He reckons that “The world doesn’t need 2000+ digital assets.” Garlinghouse continues to say:
While I don’t think there will be one coin to rule them all, it’s clear that if an asset doesn’t have a proven use case beyond speculation, it is not going to survive.
Ripple price update
Ripple has remained relatively unchanged since the last technical update on Friday. Movement is limited to the upside. At the same time, the downward correction has no momentum owing to the low volatility across the crypto market. Besides, the MACD is ranging under the mean line and features a bullish cross. However, if the bearish pennant pattern continues to impact the price, Ripple is likely to retest $0.1750 support in the short term.
XRP/USD 4-hour chart
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Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
