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Ripple CEO Comes Back at Mike Novogratz, Calls XRP an Outperformer Compared to Bitcoin

Ripple CEO Comes Back at Mike Novogratz, Calls XRP an Outperformer Compared to Bitcoin
Ripple CEO Comes Back at Mike Novogratz, Calls XRP an Outperformer Compared to Bitcoin

A war of words between Galaxy Digital’s Mike Novogratz and Ripple CEO Brad Garlinghouse is startling the crypto community. After Novogratz commented on Ripple’s XRP, Garlinghouse came to his project’s rescue.

Is Ripple XRP an outperformer?

Speaking at the TD Ameritrade National LINC 2020 conference in Orlando, Florida, last week, Mike Novogratz talked about the poor performance of XRP in 2020. While talking to financial advisors, he said that the currency underperformed “immensely” last year and that it would continue to do so in 2020 because of the large supply of the token.

Ripple CEO Comes Back at Mike Novogratz, Calls XRP an Outperformer Compared to Bitcoin

Brad Garlinghouse, the CEO of Ripple, responded to Novogratz on Twitter. He started off by referring to CoinDesk, suggesting that XRP has performed well in 2020. It has moved from the $0.1970 support level to $0.2700 year to date, marking a 44% rise in price. Bitcoin, on the other hand, has only registered a 33% price rise. So should an investor buy Ripple? Well, the answer is not that simple.

He didn’t stop there. He also called out Novogratz on his previous predictions in which he claimed that Bitcoin would go up to 20k in 2019. He wrote, “Also..this is the same guy that said bitcoin would go to 20K in 2019 ‾_(ツ)_/‾ #notNostradamus He did predict Tom Hanks would win an Oscar for Mr. Rogers – maybe this is the prediction he’ll get right? Personally voting for Brad Pitt though!”

Bitcoin and XRP- worlds collide

XRP is the digital currency of the Ripple ecosystem. Even though it is the third-largest cryptocurrency in the world, it is privately owned and managed, unlike Bitcoin which is a decentralized system. The price of XRP is only a fraction of Bitcoin’s price, which is the largest cryptocurrency in the world in terms of price and market capitalization.

However, supporters of Bitcoin and the XRP Army believe that their coin will make it to widespread adoption first. While the price of Bitcoin has increased to over $7,000 this year, XRP is still struggling to move past its two-year downturn which came during the 2018 crypto winter. The company is facing several lawsuits from investors and there is always a fear that it could continue to dump more coins in the market.

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