How is it going Ripple? Over the last few weeks, XRP has suffered greatly from a media point of view with the great attention with which the public has followed the events of Pound e Bitcoin. The new Facebook cryptocurrency and the most famous virtual currency have in fact greatly benefited from a number of factors that they have in practice obscured the rest of the lot and they could continue to do so for a long time, because of their characteristics.
It was therefore necessary a twist or something that could bring XRP back into the spotlight and to take charge of it was in the last hours Brad Garlinghouse, the CEO of the company that manages the development. The results of his strategy, however, risk not being particularly exciting.
What did Garlinghouse say?
Over 30 agreements with the banking sector per week: this would be the booty that Ripple has managed to achieve over the past few months. This was stated in a recent interview by Brad Garlinghouse, stating that the basis for the agreements reached would be the use of XRP technology for instant settlement between different banks. In light of the mission that inspires the project's development team, the statement in this regard does not seem out of place, considering that since its inception Ripple has looked at interbank transactions as a goal of its existence. However, the numbers quoted by Garlinghouse are out of tune, especially if compared with the data provided by the company at the beginning of the month. On that occasion, in fact, the launch of over 200 collaborations with financial institutions from all over the globe was commemorated. At the pace specified by the CEO, seven weeks would be enough to achieve a result of this kind. In short, Garlinghouse probably got carried away by the need to magnify Ripple in order to respond to excessive attention of the press to Libra and Bitcoin.
Was Libra the target of Garlinghouse?
As part of the same interview, Garlinghouse then attacked Libra bluntly. In particular, he stigmatized thearrogance with which Facebook is carrying out its cryptocurrency project, especially in light of the bad reputation that Menlo Park has made with data management culminating in Cambridge Analytica scandal. An arrogance that, moreover, could be paid by others, in particular by companies that deal with cryptocurrencies, which could be subjected to greater controls.
Precisely the attack on Libra has led some analysts to link two parts of the speech that even, at first sight, would seem unrelated. In practice, according to these observers, Garlinghouse would try to convince the markets about the goodness of the Ripple project extolling agreements of which, at the moment, there is no security. In the absence of results on this front, he would then try to sow uncertainty about what could soon be a direct competitor, able with his intrinsic strength, given Facebook's firepower, to grow at the expense of Ripple. A scenario, the latter, seen with understandable anxiety by XRP supporters, who are already having to oppose the growth in terms of Bitcoin image.