Ripple's CEO, Brad Garlinghouse, was recently interviewed by Cory Johnson (Ripple's Chief Market Strategist) in an Ask Me Anything (AMA) session that was broadcast on Wednesday, August 22nd. In the AMA session, Brad and Cory discussed a lot about XRP, Ripple's products, new Ripple employees and the future of cryptocurrency and blockchain industries around the world. The complete interview was posted below for easy access.
Q3 could be the Game Changer for XRP
Of particular importance during the discussion, is when Cory Johnson asked Brad Garlinghouse what were his thoughts with Wallstreet and institutional investors talking about how they want to enter the encrypted space and on the challenges they face with digital resource custody services.
Brad is quoted as saying the following:
One of the things I will take for a future announcement inside the Q3 market reports, which we always share … where we see institutional participation 39; purchase of XRP. The third quarter will surely be a record of institutional participation in the purchase and interest in maintaining XRP.
Further analyzing Brad's comments, we can assume that institutional investors are already buying XRP or planning to do so in this third quarter of 2018. A question everyone is asking, is why the price of the digital good has not increased if these purchases are happening. The answer to this question might be that institutional investors are buying XRP Over The Counter (OTC) rather than through normal cryptographic exchanges we are used to.
Brad would also add the following when more institutional investors will get into space with more vigor.
I thought that in 2018 we would see a more general industry see more aggressive institutional participation. It took a little longer. Now I was expecting 2019 … railroad tracks to be thrown out … You're seeing very interesting companies starting to solve the problem of institutional custody. This prepares us well for the rear half of 2018 and also for 2019.
The problems of institutional reliance have been solved by companies such as the custody of Bakkt and Coinbase. According to Garlinghouse, there is a high possibility of blockchain startups that solve more of these custody issues and then collaborate or are acquired by the Wallstreet companies. This is due to the fact that Wallstreet has the habit of letting startups solve a problem, then arriving with the "big money" to finance the expansion.
In conclusion, with Bitcoin (BTC) and the general cryptographic markets showing Signs of Stability, the third quarter could be the start of XRP once again large in the markets. There is also the added factor of xRapid which starts up very early and further demonstrates the usefulness of XRP as a source of instant liquidity for cross-border transactions.
Disclaimer: this article does not intend to provide financial advice. Any opinion here should be taken as well as it is. Perform your research before investing in one of the many cryptocurrencies available.