In the progressing crypto market towards an awaited bull run, Brad Garlinghouse, CEO of Ripple, emphasizes that the success of cryptocurrencies like XRP during the current bullish phase relies on their practical applications and usefulness in the real world.
Ripple CEO Strategy for XRP Success
On Monday, March 11, Garlinghouse shared XRP’s roadmap to success on X (formerly Twitter). Highlighting significant developments in the crypto sphere driving the anticipated 2024 bull run, Garlinghouse emphasized the role of utility in propelling a cryptocurrency’s advancement.
Garlinghouse revealed that the rise in Spot Bitcoin Exchange Traded Funds (ETFs) and the upcoming Bitcoin halving event have fueled a bullish trend in 2024. He also noted the significant correlation between Bitcoin’s performance and the broader market, where Bitcoin price variations affect other cryptocurrencies.
According to Garlinghouse, a cryptocurrency’s success relies not only on market trends but significantly on its practical real-world applications. He stressed that a cryptocurrency’s true progress stems from converting market enthusiasm into practical use cases.
In this context, XRP stands out among leading cryptocurrencies due to its advanced utility and extensive use cases. Functioning as a bridge currency, XRP offers cost-effective solutions for financial institutions in crypto-fiat exchanges and enables efficient cross-border payments for enhanced payment systems.
Echoing Garlinghouse’s views, an XRP enthusiast and crypto analyst known as “JackTheRippler” on X, highlighted XRP’s significant utility, suggesting that utility could drive XRP to become the next Bitcoin in the market.
XRP Price Fundamentals Strengthen
After experiencing prolonged price stagnation, XRP is now emerging from bearish trends into a potential long-term bullish trend towards new all-time highs. Fueled by the current bull market excitement and Bitcoin’s surge to new record levels, XRP’s price has been notably increasing recently.
Earlier in 2023, Garlinghouse, in a Bloomberg interview, was asked if he sees XRP as the next Bitcoin. He responded by stating that by addressing real challenges through the system, Ripple could unlock significant value opportunities in XRP. Garlinghouse emphasized that XRP is at the core of Ripple’s objectives.
The cryptocurrency has witnessed a gradual price increase, currently trading at $0.69, showing a 12.66% rise in the past week according to CoinMarketCap.
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