Ripple’s XRP And Ethereum (ETH) Are Not Rivals Despite Their Battle On CoinMarketCap
Despite the fact that Ripple’s XRP and Ethereum (ETH) have been switching places on CoinMarketCap according to the changes in their market cap, it seems that Ripple does not consider ETH to be a rival or competitor.
Currently, ETH is placed in the third position, while XRP is proudly occupying the second position after Bitcoin (BTC).
XRP and ETH are not rivals
Recently, Brad Garlinghouse was talking about XRP and the crypto space in general, and he explained that he does not consider ETH as a rival or a competitor for Ripple’s digital asset.
Smartereum reported that he indicated that the crypto space is like a “marathon, not a sprint.”
The Ripple CEO also said that measuring the level of success of any crypto/project on a daily or hourly basis is nothing but a “fool’s errand.”
He also highlighted that rather than competing with one another, valuable coins are more focused on its target audience and developing their innovative use cases.
Garlinhouse also addressed the “battle” that ETH and XRP are having on CoinMarketCap which shows the coins dueling for the second spot after Bitcoin. He only sees this as an “overlap of interest.”
Here’s what he said: “I don’t consider what Ethereum (ETH) is doing a competition considering what’s happening in with the XRP space. Surely (there’s an overlap), but I think things are going to play out accordingly in a long period.”
Two important predictions for 2019
Ripple’s CEO has recently spoken at the World Economic Forum, and he discussed where crypto and the blockchain tech would be headed to in 2019.
For starters, he believes that banks will become crypto custodians this year.
Secondly, he highlighted that the game industry on the blockchain is undervalued these days, but this will become one of the catalysts of mass adoption.
More expert voices in the crypto space are calling 2019 the year of mass adoption.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.