Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Why Is XRP’s Price Lagging in 2019? Ripple CEO Says Regulators May Be to Blame

by Daily Hodl Staff
October 16, 2019
in Ripple and XRP
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

‎‎‎ ‏‏‎

ADVERTISEMENT

Ripple CEO Brad Garlinghouse says a lack of crypto clarity from US regulators may have kept the price of XRP from rising this year.

When asked why XRP is lagging compared to the rest of the crypto market, Garlinghouse tells Fox Business that regulators could be playing a role.

The U.S. Securities and Exchange Commission has declared that Bitcoin is not a security and officials at the SEC have also said Ethereum is likely not a security under US laws. But so far, the agency has been quiet about XRP.

“I think it’s lagged maybe, in part, because the US government has provided clarity about Bitcoin. They’ve provided clarity about Ether. But then they’ve remained silent about the third most valued digital asset in XRP.

Regulators have a hard problem. These are new technologies and I think there’s work to be done there. But I think globally it’s been more positive. The UK government has been clear around their designation of XRP as not a security and more of a utility token. The Japanese government has been clear. The Singaporean government [as well].

So I think the macro trendline is very positive here, but I do think the US can continue to spend time on this and provide leadership.”

ADVERTISEMENT

Garlinghouse also addresses concerns about Ripple’s monthly release of 1 billion XRP from escrow.

He says Ripple sells a small fraction of the 55 billion XRP it owns each month, and the escrow process is designed to assure investors that Ripple can’t and won’t sell a bunch of its holdings all at once.

“About three years ago, we set up escrow contracts, 55 of them. So we put 55 billion units of XRP into these escrow contracts. Every month, one of them becomes unlocked and at the end of that month, we put some of that back into escrow.

We don’t actually sell a billion, just to be clear. There’s a billion released every month. The vast, vast – 80% to 90% of that – goes back into the 56th month and 57th month. We did this because there was a perception that Ripple could, because we own a lot of XRP, cause pressure on the market. That wouldn’t be in our own self-interest, but that risk existed hypothetically.

We decided to remove that as a concern from the community by simply saying, ‘We’re going to lock these up into contracts and they’re going to be cryptographically signed such that we can’t sell them. There are 100 billion units of XRP that have been created. There will never be any more. So from a dilution of the market, there won’t be any more. From an introduction of supply that’s kind of locked up, we want to make sure it’s a constructive, healthy market engagement.”

ADVERTISEMENT
Follow us on Facebook            Join us on Telegram            Follow us on Twitter



Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Submit a Press Release

Crypto Livewire – Press Releases

  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
  • Everest Receives Crypto Custodian Approval
    February 23, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$47,104.00
$47,104.00
0.38%
Ethereum
$1,478.70
$1,478.70
0.68%
Binance Coin
$227.85
$227.85
1.71%
Polkadot
$35.24
$35.24
15.02%
Cardano
$1.43
$1.43
26.86%
XRP
$0.436792
$0.436792
1.09%
ADVERTISEMENT

Spotlight

  • Massive Bitcoin Whale Transactions Move More Than $1,900,000,000 in Crypto
    February 23, 2021
  • This Small-Cap Altcoin Is One of the Most Promising Projects of 2021, According to Coin Bureau
    February 26, 2021
  • Elon Musk Triggers Massive Bitcoin Breakout After Defending Tesla’s $1.5 Billion Investment
    February 20, 2021
  • ARK Invest’s Cathie Wood Warns ‘Valuation Reset’ Coming, Says Firm Plans To Capitalize on Wave of Fear
    February 24, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.