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 XRP's differentiation 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 under 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, capable of settling transactions in 3-5 seconds, its low cost, which is a fraction of a penny per transaction, and its 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 remarked, "Depending on the circumstances, we sometimes become the XRP Army," and praised the community that has supported XRP and Ripple through years of regulatory disputes, market volatility, and constant skepticism, making XRP special.

Garlinghouse also discussed cryptocurrency infrastructure, tokenization, artificial intelligence (AI), and the future of digital payments during a Binance Square session with Lily Liu, President of the Solana Foundation, and Richard Teng, Co-CEO of Binance. He stated, "Crypto summer is no longer about hype; it's about infrastructure," and revealed that global finance is being reshaped in real-time in an environment of increasing regulatory clarity.

Garlinghouse assessed that traditional finance is positively entering the cryptocurrency space, mentioning Morgan Stanley's entry 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. Garlinghouse praised the committee for moving the market structure bill to markup on Thursday after months of work.

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

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