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Ripple CEO: Only RWA Can Validate “Crypto is Back” Hype

Ripple CEO Brad Garlinghouse has noted that for the current "Crypto is Back" narrative to last, attention must be paid to real world utility
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Ripple CEO: Only RWA Can Validate “Crypto is Back” Hype

Highlights

  • Ripple CEO wants bullish crypto market to embrace real world utility
  • He believes this is what can make Bitcoin and market rally sustainable
  • This update comes as Bitcoin's price topped multiple ATHs

Brad Garlinghouse, CEO of blockchain payments firm Ripple Labs Inc, has highlighted the surging volumes of Bitcoin (BTC) Exchange-Traded Funds (ETFs) and the imminent halving event, noting their significant influence on the broader cryptocurrency market.

Garlinghouse highlighted the historical pattern of the crypto market following BTC’s lead, a trend observed across multiple market cycles. He, however, maintains that only Real World Assets (RWA) can sustain the hype around crypto.

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Ripple CEO and RWA Embrace

Drawing from his experience traversing various crypto market cycles, the Ripple CEO emphasized the importance of coupling bullish market sentiment with real-world utility. He stressed that while bullish trends are promising, they must align with tangible applications and utility in the real world to signify genuine progress within the cryptocurrency ecosystem.

Meanwhile, in anticipation of next month’s halving events, Bitcoin’s price has surged to an all-time high above $72,000, propelling it into the top eight assets worldwide, surpassing Silver.

Garlinghouse’s remarks reflect a broader industry sentiment regarding the evolution of cryptocurrencies beyond speculative trading and price movements. As the cryptocurrency market matures, stakeholders are increasingly recognizing the importance of real-world use cases and adoption in driving sustained growth and legitimacy within the industry.

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Ripple Is Playing Key Role in Driving Real World Adoption

The Ripple CEO’s support for real-world functionality resonates with the company’s goal of streamlining cross-border payments and enabling smooth transactions through blockchain technology. Ripple prioritizes practical applications that provide financial institutions with a cost-efficient means to exchange both crypto and fiat currencies, leveraging blockchain for tangible solutions that tackle real-world obstacles.

Other digital assets with similar functionality include Ethereum and Bitcoin. In addition to its role as a digital currency, Ethereum possesses the capability to conduct various financial transactions, enact smart contracts, and serve as a data repository for third-party applications. Bitcoin on the other hand, serves mainly as a means to store value and conduct transactions.

As the cryptocurrency market continues to evolve, Garlinghouse’s emphasis on the intersection of bullish market sentiment and real-world utility serves as a reminder of the importance of practical applications in driving long-term sustainability and growth within the industry.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

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