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XRP Powered 7.5% of All USD/MXN Transactions Last Week Alone: Brad Garlinghouse

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Tue, 02/18/2020 - 13:16
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  • In a recent interview with CNN, the Ripple CEO shared some positive facts about XRP, also mentioning a surge in liquidity that occurred last week

Cover image via ripple.com
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Talking to CNN host Julia Chatterley the other day, the Ripple chief executive spoke on Ripple, XRP and cryptocurrency in general, bringing positive news to the community.

“We’ve started 2020 with a lot of momentum”

When talking about the results of 2019, the head of Ripple mentioned attracting over 300 customers, focusing on cooperation with banks, their collaboration with MoneyGram and focusing on solving real problems that customers need a solution to.

So, the CEO revealed that 2019 went extremely well for Ripple and that the beginning of this year has also been positive. He noted:

“We’ve started 2020 with a lot of momentum”

Overall, he said that the crypto industry has been quickly moving from pure market speculation to actual utility – that’s the real goal, he said, admitting that Ripple has been doing that for a long while already.

“I think it really goes back to moving from that speculation that had driven the crypto market to utility. Like, solving problems for customers. Ripple has been focused on that for a long time”.

The head of Ripple said that several big countries - Singapore, Thailand, Switzerland and Japan – have been expanding on crypto regulation. In 2020, he expects the US to join them.

XRP utility surges

Garlinghouse stated that last week, XRP powered 7.5 percent of all USD/MXN transactions. That’s up from around 3 percent in December, the CEO pointed out.

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Meeting regulators and bankers in Davos

Brad Garlinghouse also mentioned that during his visit to Davos (the annual World Economic Forum) in late January he met with regulators and senior executives of large banks to talk crypto with them and explain how XRP can be useful in the sphere of payments. He admitted that so far ‘crypto’ has been a taboo word within the traditional financial sphere.

“A lot of what I did in Davos was meeting with regulators, with very senior people at banks and explaining to them how crypto can be used…how XRP specifically can be used… to solve a real problem. Not to circumvent regulation, not to circumvent any government. And I think once they understand that, they will quickly become disarmed, crypto will be no longer a bad word.”

Garlinghouse is certain that the sphere of payments could be tremendously improved through the use of new technologies, such as blockchain.

Calvin Ayre bashes Ripple

A famous supporter of BSV and Craig Wright, Calvin Ayre has taken to Twitter to slam Ripple, saying that this is not even a public blockchain and calling the crypto giant ‘a pointless thing to discuss’.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC

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  • A lone whale was able to move the BTC price by more than $400 on the Kraken exchange

Cover image via stock.adobe.com
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The Bitcoin price briefly surged to €6,190 (about $6,800) on Kraken after a lone whale bought more than 1,000 BTC.

At press time, the benchmark cryptocurrency is changing hands at $6,469 on the exchange.  

Kraken
image by reddit.com

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Whales pull all the strings 

While it's tempting to assume that a major whale has decided has reentered the market after BTC's disastrous performance in March, deep-pocketed holders are prone to manipulating prices to make easy money. Hence, traders should be cautious not to appear on the wrong side of another sell-off.    

As reported by U.Today, there was a theory that the massive April 2 pump that kicked off the glorious 2019 rally was orchestrated by one major player who took advantage of low liquidity on numerous exchanges to pump the price. 

Back in June 2019, a savvy Coinbase user sold $213 mln worth of BTC and bought back the whole thing shortly after to earn a whopping $10 mln in practically no time.  

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A $328 mln Bitcoin transaction  

In the meantime, Whale Alert, the service that tracks large transactions across multiple blockchains, has spotted a mammoth-sized Bitcoin transaction that is worth more than $328 mln. 

However, it appears to be an internal transfer, which means that it will not affect BTC's price action. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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