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

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
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

‎‎‎ ‏‏‎

ADVERTISEMENT

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.

ADVERTISEMENT

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.”

ADVERTISEMENT

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

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

  • OpenDAX 3.0 With Exchange Liquidity Network (XLN) by Openware Goes Live
    March 6, 2021
  • Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale
    March 5, 2021
  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • 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
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$50,111.00
$50,111.00
3.17%
Ethereum
$1,660.77
$1,660.77
0.73%
Binance Coin
$234.38
$234.38
4.38%
Polkadot
$34.06
$34.06
2.53%
Cardano
$1.13
$1.13
1.5%
XRP
$0.462110
$0.462110
0.04%
ADVERTISEMENT

Spotlight

  • The Elon Effect – Companies Now Racing for a Piece of the Bitcoin Pie
    March 1, 2021
  • IRS Answers Critical Question on Bitcoin and Crypto Tax Reporting for US Citizens
    March 5, 2021
  • Top Analyst Predicts Massive XRP Breakout, Warns Major Bitcoin and Crypto Correction Coming First
    March 3, 2021
  • Jack Dorsey Using New Crypto Project to Sell His First Tweet
    March 7, 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.