While the cryptocurrency market fixates on price movements, Ripple, a leader in blockchain technology for cross-border payments, takes a different approach.
According to Eric van Miltenburg, the Senior Vice President for Strategic Initiatives at Ripple, the company’s success isn’t measured by the ups and downs of XRP, the digital asset it majorly distributes.
Ripple’s Focus on its Mission
During a 2019 episode of the Second in Command podcast, Miltenburg addressed the emotional rollercoaster experienced by crypto investors during periods of volatility. He acknowledged XRP’s past price surges and subsequent declines but emphasized Ripple’s unwavering commitment to its core mission of revolutionizing cross-border payments.
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XRP as A Strategic Asset, Not a Speculative Tool
Miltenburg acknowledged XRP’s importance to Ripple, given the company’s advocacy for the digital asset. He clarified, however, that its value extends beyond mere speculation. It plays a critical role in Ripple’s long-term product strategy, particularly due to its efficiency in payment use cases.
According to Miltenburg, XRP’s low transaction fees, fast settlement speed, and high throughput make it uniquely suited to address liquidity challenges in the global payments landscape. He explained that XRP is integral to Ripple’s broader solution, not just a standalone asset.
Beyond Short-Term Gains
This strategy does not sit well with the community, as a prominent community member recently called out Ripple CEO Brad Garlinghouse on X for it. He complained that people were abandoning XRP due to its poor performance, sharing a growing feeling of discontent within the community.
On the podcast, Miltenburg emphasized that Ripple operates with a long-term vision, not the short-term focus on price fluctuations that dominate the crypto market. This strategic approach allows the company to define success differently.
Miltenburg emphasized that Ripple’s success is measured by the value delivered to financial institutions, not by the daily price of XRP. The company gauges progress by the increasing adoption of its technology, which is facilitating faster, cheaper, and more transparent cross-border payments.
This emphasis on real-world utility resonates with prominent figures in the XRP community. Crypto Eri (@sentosumosaba), a well-known XRP advocate, recently highlighted Miltenburg’s statement, underscoring the importance of focusing on Ripple’s broader impact.
"We measure our success not on the price of #XRP …"
"…we will, on occasion, we will sell some of that into the market, that #1 generates some incremental funding for us, but also helps create more liquidity…"
Eric van Miltenburg, @Ripple, currently Senior Vice President… pic.twitter.com/3YS9HVGCfb
— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) February 19, 2024
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XRP’s Long-Term Potential
While Ripple does not solely rely on XRP’s price for funding, it strategically sells a portion of its holdings to generate additional funding to fuel growth and development and contribute to increased liquidity in the global XRP market.
Last year, a prominent figure in the XRP community explained that the company would not abandon XRP. The long-term plans will bring more profit to users than any short-term strategy. The community has to have faith in XRP’s potential.
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