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Ripple is no rival to Ethereum – Brad Garlinghouse

  • Ripple’s CEO shared his views on the Ripple ecosystem and decentralization issues during Davos Forum.
  • XRP/USD needs to recover above $0.3120 as soon as possible.

Ripple is gaining broad support, though its ecosystem needs more transparency, according to Ripple’s CEO Brad Garlinghouse. Speaking at the World Economic Forum in Davos, he explained that the term decentralization implies various nuances and shades of meaning. Thus, according to Garlinghouse, Ethereum used to be decentralized before the big market players accumulated the hashrate.

He believes that XRP is more decentralized than coin supported by miners. Speaking about the competition between XRP and ETH, he explained that his company did not consider Ethereum ecosystem as a rival.

“This is a marathon and not a sprint and measuring the success of any platform in the day-to-day, hour-to-hour is a fool’s errand, and I think all of the major platforms are working on interesting use-cases”¦ and I think we are still in the nascent stages of this market. I don’t consider” “I don’t consider what Ethereum is doing in any way as a competitor with what’s going on with the XRP ecosystem,” he said, speaking during the panel discussion with Joseph Lubin of the ConsenSys.

Meanwhile, XRP/USD is hovering under $0.3000 handle, down nearly 5% on a day-over-day basis. The coin touched $0.2917 low during early Monday hours, which is the lowest level since December 17. A sustainable move below $0.3000 spoiled the short-term technical picture. A quick recovery above $0.3070 is needed to mitigate the selling pressure.

XRP/USD, 1-hour chart

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