Ripple CEO "XRP, Settlement in 5 Seconds, 4 Billion Transactions Processed"

▲ XRP/AI-generated image

As traditional financial institutions accelerate their entry into blockchain, Ripple's CEO emphasized the distinctiveness of XRP in the payment market, highlighting its speed, cost, and scalability.

CoinGape reported on May 14 (local time) that Ripple CEO Brad Garlinghouse explained why XRP differs from other cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Garlinghouse stated in his second "Crypto in a Minute" video, "We're doing something special to explain XRP in a minute."

Garlinghouse revealed that many early Bitcoin core contributors participated in building the XRP Ledger (XRPL). He explained that while Bitcoin established itself as a major cryptocurrency asset, developers created XRP to solve payment problems. Garlinghouse emphasized that XRP is unique due to its fast speed, settling transactions in 3-5 seconds, low cost of only a fraction of a penny per transaction, and scalability. The XRP Ledger has processed over 4 billion transactions to date.

Garlinghouse also cited the loyalty of the XRP community as a differentiating factor. He said, "Depending on the situation, sometimes we become the XRP Army," and assessed that the community, which has supported XRP and Ripple through years of regulatory disputes, market volatility, and constant skepticism, makes XRP special.

Garlinghouse also discussed crypto infrastructure, tokenization, artificial intelligence (AI), and the future of digital payments in a Binance Square session with Solana Foundation President Lily Liu and Binance co-CEO Richard Teng. He said, "The crypto summer is no longer about hype, but about infrastructure," and stated that global finance is being reshaped in real-time in an environment of increasing regulatory clarity.

Garlinghouse assessed that traditional finance is entering cryptocurrency in a positive way, mentioning Morgan Stanley's foray into crypto. Regarding the U.S. crypto market structure bill (Clarity Act), he said, "We are closer to the finish line than ever before." According to CoinGape, the bill secured majority support in the Senate Banking Committee, laying the groundwork to push forward discussions on crypto legislation, and Garlinghouse praised the committee for moving the market structure bill to markup on Thursday after months of work.

CoinGape reported that while Bitcoin sharply dropped to $79,000, the XRP price held strong. XRP was trading at $1.43 at the time of writing, with 24-hour low and high of $1.41 and $1.47, respectively. The article also suggested a forecast that XRP price could reach $1.58 as whale wallets hit an all-time high.

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