"I have said publicly before that I think 99 percent of all crypto probably goes to zero, but there is that one percent that I think is focused on solving a real problem for real customers and is able to do that at scale," Garlinghouse told Bloomberg.
He recalls how Ripple moved from illicit use cased, such as SilkRoad, to a speculative bubble while forecasting that 2019 and 2020 will be all about the real utility of digital assets.
"It's the reason why Ripple has been focused on a specific customer, a specific problem, and we've been fortunate to build a lot of momentum with that customer set."
SWIFT is more volatile than XRP
Garlinghouse further explains why Ripple would be a better alternative to SWIFT, the leading messaging network for financial institutions. He claims that SWIFT is more volatile given that it takes two or three days to settle a transaction. Meanwhile, your ordinary XRP transaction only takes a few seconds, which is a major selling point for Ripple.
"It turns out that the volatility risk is lower with an XRP transaction."
Earlier, the Ripple boss claimed that SWIFT failed to fix inefficient cross-border payments, which is why banks don't like it.
The XRP sell-off
While addressing XRP's grim price performance, Garlighouse states that they pay attention to prices over the long haul. Unlocking the potential of digital assets could be a decade-long journey. However, he does think that there is a lot of "bullish trends" for the whole crypto ecosystem.
As reported by U.Today, Ripple will hold its annual SWELL conference on Nov. 6-7. Strangely enough, the XRP price struggles to rally ahead of the much-anticipated event the way it did in 2018 and 2017.