The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

With XRP Price ‘Tanking’ in 2019, Does Ripple Really Belong in the $10 Billion Club? CNBC Analysts Debate Future of Leading Crypto Company

by Daily Hodl Staff
December 22, 2019
in Ripple and XRP

CNBC anchor Brian Sullivan is expressing shock and awe after Ripple’s recent fundraising round that values the company at $10 billion.

Upon learning of the valuation, Sullivan says he did a double take and asked his staff to double check the numbers.

“When they sent me the story, I said, ‘Well, Kate screwed up. That can’t be billion. It’s got to be million! What is this?'”

In a new episode of Fast Money, journalist Kate Rooney confirms the big number, and outlines 2019’s journey for both Ripple and XRP in 2019.

“Brian, you’re reading it right. So Ripple announced a $200,000,000 funding round, and that money is not in cryptocurrency. The new cash injection brings Ripple’s valuation to $10 billion, making it one of the most valuable private startups in Silicon Valley.

But a key lifeblood of its business has been tanking. Ripple is the majority owner of the cryptocurrency XRP and sells it every quarter to help fund the business. Ripple also uses XRP as a so-called bridge currency for cross-border transactions. XRP had skyrocketed alongside Bitcoin two years ago. It’s now down roughly 50% this year, while Bitcoin has actually rallied 80%.”

Noting that the valuation is larger than that of Bed Bath & Beyond, Whirlpool and Planet Fitness, Sullivan questions whether Ripple really belongs in the $10 billion club.

“In all seriousness, when you see these valuations. Somebody understands something that I don’t understand or we don’t understand. But you’re seeing so much money thrown at these companies. When you look at Uber and and all these others that are having trouble, what does that tell you about a macro market?”

Stock market strategist Carter Worth says Ripple now has to prove itself and show it can gain dominance in the world of international remittances.

“It’s the nature of something that’s unknown and new. The dream can be big. And then at some point, the child is grown and the dream is gone. That’s Pink Floyd. But the point is, that’s the nature of anything that’s unknown. You can put any valuation on it. And that’s what people do. But when it has to prove itself, things can go very badly.”

Asset manager Tim Seymour says the fact that Ripple now has 300 customers including MoneyGram, Santander and American Express is not to be taken lightly, nor is its recent backing from Tetragon, SBI Holdings and Route 66 Ventures.

“The institutional representation in this investment is important, and it’s actually very impressive.”

You can check out the full segment below.

Ripple making a splash with its valuation hitting $10 billion today. Here what our traders see ahead for the cryptocurrency exchange. pic.twitter.com/KPkzJDHbEx

— CNBC's Fast Money (@CNBCFastMoney) December 20, 2019

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
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

Industry Announcements

  • Unizen and DWF Labs Strategic Partnership To Revolutionize Web 3.0 User Experience
    March 31, 2023
  • Core’s Revolutionary Satoshi Plus Consensus Marries Decentralization, Security and Scalability
    March 30, 2023
  • Lost Worlds Launches Version 2.0 of GeoNFTs in Web 3.0 Platform
    March 30, 2023
  • Script Network, SingularityNET and Stacks Bring Practical Solutions to Real-World Issues
    March 29, 2023
  • OKX To Open Office in Australia
    March 29, 2023
  • Metacade Raises Over $14.7 Million As Presale Sets To Close in 72 Hours
    March 29, 2023
  • Binance Expands AI-Powered NFT Generator Bicasso
    March 28, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,885.47
$27,885.47
1.34%
Ethereum
$1,774.26
$1,774.26
1.48%
Cardano
$0.372538
$0.372538
3.86%
XRP
$0.536301
$0.536301
2.74%
Dogecoin
$0.07421
$0.07421
2.09%

Spotlight

  • Crypto Whales and ‘Smart Money’ Now Accumulating One Ethereum-Based Altcoin: On-Chain Data
    March 30, 2023
  • Analytics Firm Santiment Tracks Cardano Accumulation, XRP Profit-Taking and Flashing Ethereum Indicators
    March 30, 2023
  • $852,000,000 in Ethereum, Polygon, Fantom and Additional Altcoins Have Left Binance Following CFTC Lawsuit: Nansen
    March 30, 2023
  • Crypto Whales Move Over $600,000,000 in Bitcoin, Ethereum, XRP and The Sandbox – Here’s Where It’s Going
    March 30, 2023
NBX Warsaw Summit Banner
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.
Featured Image: Shutterstock/Billion Photos

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 •
Futuremash •
Industry Announcements

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

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl