The Ripple grew last year by 38 000 that came in second place in terms of capitalization. But yesterday, the cryptocurrency has experienced a significant decline in value and fell by 26% from the record level of $3,84 after the largest exchange in USA Coinbase put an end to rumors that the company will soon add digital currency to its market.
In an exclusive interview with FOX Business, the Executive Director of Ripple brad Garlinghouse said that the fall in the price per night is part of the early stages of market volatility.
"The market digital assets more volatile. Many on the market of bitcoins, but it does affect it and XRP. This is because these markets are still in its infancy. For them it is still the early stages of creation before they really become the new asset class", he said.
Ripple works with American Express (AXP) and three of the five largest companies to transfer money all over the world to implement its digital platform XRP in their payment systems.
"We are working with three of the five largest [payment systems] in the world, and we officially will announce it when it's ready," added Arlinghaus.
The Director General noted that Ripple XRP uses to "solve the global problem of payments" by providing digital payment network of financial institutions for making fast and less expensive currency transactions.
author:Maxim Centurion