XRP Sales Hit Record Rates by Major Institutional Investors
According to Ripple’s Chief Executive Officer, Brad Garlinghouse, XRP is the purchasing and holding of XRP by Wall Street investors has reached record rates.
What Ripple’s CEO Has to Say
Garlinghouse participated in an Ask Me Anything live YouTube interview explaining that quarterly reports on XRP quantities sold will demonstrate a steep interest rise.
He announced a teaser stating that the third quarterly report on XRP will be shared showing just how much institutional interest has grown for Ripple. He expects record highs for holding interest and purchasing of XRP due to institutional investors.
The CEO also discussed the topic of transparency within the crypto scene pinpointing Ripples strive to be open regarding its ownership of 60% of XRP supply. Almost all of that supply remains stored in escrow.
He went on to explain that the platform wants to emphasize focus on solutions to real issues and maintain transparency within their ecosystem. Garlinghouse stated that he believes Ripple remains the most open and proactive player within the larger crypto community.
Regarding the adoption of Ripple into institutional interest and investment schemes, Garlinghouse says an increase in major entities is underway. Comparing Ripple to other cryptocurrencies such as Ether, Garlinghouse also stated that Ripple tends to be more open about their ownership of XRP and future plans.
A Leap Towards Future Progression
Garinghouse mentioned a recent announcement from ICE regarding their plans to launch an exchange named Bakkt, noting that it is a major move and representative of how the crypto community is growing globally. He predicts an overall growth in interest and claims this event stands as a positive indication for future progression and maturity of the crypto industry. Although he still sides with the perspective that as a young technology, there is much space for growth and innovation, the participation of institutional players marks a leap forward.