Ripple CEO Brad Garlinghouse says he views XRP as a hedge against currency devaluation but stops short of calling it digital gold, a title he reserves for Bitcoin. His comments land as XRP consolidates between $1.30 and $1.60 following a week of security-related selling.
Garlinghouse separates XRP from digital gold
Asked whether Ripple could be seen as digital gold, Garlinghouse first drew a line between the company and the XRP token, a habit he says has stuck since the US lawsuit against Ripple. He views the token as a hedge against currency devaluation, pointing to distrust in how governments manage money supply.
His case rests on the dollar's track record. According to Coinpedia: "You can't trust governments to manage monetary supply in an expert way", he said, noting the dollar has lost about 30% of its value in five years and more than 90% over 30 to 40 years. He expects more capital to flow into non-inflationary assets, including gold and crypto, as that erosion continues.
XRP consolidates after security incidents
XRP gained 7.53% over the past week but faced heavy selling toward the end of the period following reports of the D'CENT wallet hack and XRP stolen from Bitget. The incidents may weigh on sentiment in the near term.
Based on current price action, XRP could keep trading between $1.30 and $1.60 before a new trend develops. Traders will watch whether the token holds the lower end of that range while facing resistance near $1.60.
Sources: Coinpedia Fintech News, Coinpedia Fintech News
Trading involves risk.
Risk Disclaimer
