Alapt

Cryptocurrency news

Brad Garlinghouse: "Ripple would not be profitable without XRP sales»

Brad Garlinghouse: “Ripple would not be profitable without XRP sales»

Ripple CEO brad Garlinghouse (Brad Garlinghouse) said that a significant part of the company’s profit is generated by the sale of XRP.

“We would have no profit and even cash flow would be negative without XRP sales. Of course, XRP sales are just one source. If you remove the software revenue, we will be less profitable. If you remove XRP, we will also be less profitable, ” garlinghouse is quoted as saying by the Financial Times

Note that in the fourth quarter of last year, sales of Ripple XRP coins decreased by 80%. The sharp decline in sales is due to a drop in direct sales to institutional clients, as well as the suspension of sales to other sources, such as cryptocurrency exchanges.

Garlinghouse also said that Ripple encourages companies using Ripple solutions, depending on “the shape, size and type, as well as the degree of their importance.”

Recently, trader and analyst Peter Brandt (Piter Brandt), who trades traditional and crypto assets, warned that the XRP rate could fall sharply by 25%.