XRP Price Surge After Ripple Exec Denounces Bitcoin Maximalism

Asheesh Birla stands as the General Manager of RippleNet, and gave an interesting comment on a Lend Academy podcast. This podcast, recorded on the 5th of November, 2020, saw Birla state that Bitcoin stood as an innovative alternative to hedging with gold, but added that the crypto space has a lot of room for a lot of tokens.

Bitcoin Can’t Serve Every Niche

Birla explained that he was convinced that payments weren’t the thing Bitcoin was going after. Due to this and the amount of use cases spread across various projects, he throws doubt on the absolute dominance the world’s first cryptocurrency has held for so long.

In a statement, he declared that the days people thought only Bitcoin would last any amount of time have long since passed. He explained that he believes that it’s clear by now that an array of digital assets will be within this space. Alongside this, Birla stated that a large number of traditional assets would see themselves tokenized as digital assets, in turn.

Massive Price Actions In The Meantime

The GM for Ripplenet gave these comments when the price of an XRP token was at around $0.25 apiece. Since then, however, the price saw a tripling, going up to $0.92 last week. That couldn’t last, however, and the market soon crashed by 30%, with the wider market going down as well.

At that time of giving comments, the XRP tokens didn’t see much movement. Even so, Birla felt bullish regarding the crypto space, stating that the space would return “red hot” after the market crash that occurred back in 2018.

Barli stated that he doesn’t expect to receive as bullish a sentiment from venture capitalists when it comes to the crypto space, compared to 2017. Even so, the man stated that he couldn’t have been happier when it comes to the innovations the crypto space has seen within these years.

Ripple Vs The US

Ripple has been having a hard time in the US, with the country not giving the firm the regulatory certainty it needs. Brad Garlinghouse, the CEO of Ripple, expressed his frustrations about the matter alongside Chris Larson, the co-founder.

Yoshitaka Kitao stands as a member of the Ripple Board and the CEO of SBI holdings. iN a statement, Kitao stated that Ripple is considering moving its headquarters over to Japan thanks to this. Larsen himself has been quite vocal against the US authorities’ enforcement policy, calling it “regulation through enforcement.”

He declared the US to be too behind when it comes to the next generation of the global financial system, which will be based on cryptocurrencies.