- Ripple’s Chris Larsen has explained that XRP was created to outshine Bitcoin in terms of speed, efficiency, and energy consumption.
- He also criticized Stellar Lumens for lacking consistency while questioning the long-term commitment of the Ethereum community.
Ripple co-founder Chris Larsen has reiterated a popular claim that suggests that XRP is a better version of Bitcoin (BTC). During a recent episode of the “When Shift Happens” podcast, Larsen lauded the conservative foundation of Bitcoin, while disclosing that XRP was created to be better than the world’s most valuable crypto assets.
The Details
Explaining his position, the Ripple co-founder hinted that XRP was built with the initial idea of being faster, more efficient, and less energy-consuming than Bitcoin. Most importantly, the whole process was led by a group of “really, really smart people”. Also, Larsen acknowledged the limitations of XRP while pledging that this would be improved upon without compromising its core value.
During the conversation, the Ripple co-founder criticized its rival, Stellar Lumens, for lacking consistency. According to him, the decision of co-founder Jed McCaleb to burn about half of the token’s supply six years ago, coupled with the constant changes, airdrops, and burn events, has made the project chaotic. Per his observation, successful currencies are mostly built on predictability rather than “impulse shift in direction.”
Speaking on the relevance of the XRP project and its consistency through time, Larsen lauded the relentless effort and support of the community. To him, this level of loyalty can only be likened to the one shown by Bitcoin supporters. For Ethereum, Larsen questioned the long-term commitment of its community.
Ripple (XRP) to go Public? Larsen Speaks on Bureaucratic Process
Delving into the recent decisions by several companies to go public, the Ripple co-founder criticized the existing process as “very bureaucratic”. According to him, short-term sellers have been driving the stock prices down using misinformation. Interestingly, similar sentiment has been echoed by Ripple President Monica Long, who has also criticized the frustrations within the US regulatory framework.
Long has earlier played down the possibility of Ripple going public soon. As mentioned in our previous news brief, she pointed out that the company is currently focused on acquisitions and does not need external capital. With this, the company has already acquired prime brokerage firm Hidden Road for $1.25 billion, as indicated in our earlier publication.
In the XRP and Bitcoin comparison, a renowned analyst called Charles Shrem has also predicted that Bitcoin’s dominance could soon be challenged. In terms of price, the founder of Alpha Lions Academy, Edoardo Farina, has argued that XRP’s potential is more conservative and realistic than that of Bitcoin.
You’d have to be insane to think Bitcoin at $106K is a better investment than XRP.
As detailed in our recent blog post, analyst Dustin Layton has estimated that a $2000 XRP investment could generate a profit of $50,000 by the end of the year. From the current price of $2.18, this implies that the asset could generate a 23x return and hit $52. According to analyst Zach Rector, XRP could also reach $15 in the near term, as highlighted in our last analysis.
Recommended for you:
Credit: Source link
