Ripple’s XRP Recovers Price Against Bitcoin (BTC) on Bullish Team Comments

 In Altcoins, Bitcoin, Exchanges

Ripple’s marketing strategist, Cory Johnson, suggests XRP may be the answer to China’s dominance over Bitcoin mining.

Ripple’s XRP was presented as the answer to the dominance of China over Bitcoin mining, as the new marketing strategist Cory Johnson pointed out in a lengthy interview for Breaker magazine.

Johnson suggested that Ripple may have reached out to the White House administration with the promises of the XRP asset and the Ripple network: 

“The White House in particular seems to be thinking about what it means to have 80  percent of bitcoin mining taking place in China and a majority of Ether mining taking place in China. When you look at XRP, there is no mining, so from a foreign-control aspect or from an environmental aspect, XRP is a very different beast. And in conversations we’ve had with the administration, they seem to get that and think that might matter.”

Ripple’s network is partially independent of the need for the XRP digital asset, as critics of the project have shown. However, there have been talks of the potential usage of XRP for various approaches, most recently as a social media and reward coin.

Coinciding with the statements, the price of XRP reached up for a small rally, regaining this week’s losses against Bitcoin (BTC). XRP rose from lows around 6,100 Satoshi to above 7,100 Satoshi. In dollar terms, XRP once again approached the $0.50 position. But last day’s price hike happened on relatively slim volumes, and some see XRP returning to lows under $0.40.

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Additionally, a report from the Wirex crypto-based card has shown increased XRP usage, showing the asset has its appeal as a low-fee, fast option for crypto payments.

However, XRP has all but lost hope of being added to Coinbase, which has expanded to other types of digital assets. XRP trading is heavily dependent on Binance, and around 27% of its trading volume is against Tether (USDT), as shown by CryptoCompare data.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.

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