XRP News Today: Ripple CEO Highlights XRP's 97% Speed Advantage Over Bitcoin

Ripple CEO Brad Garlinghouse recently emphasized the practical applications of XRP in global payments, focusing on its speed and efficiency. In a video clip shared by a popular XRP community member, Garlinghouse discussed how Ripple is utilizing XRP to modernize cross-border transactions by eliminating the need for pre-funded accounts between financial institutions. Under the current correspondent banking model, banks must maintain dormant capital in foreign accounts to facilitate transactions. Ripple's solution, however, leverages real-time liquidity sourced through XRP, allowing for instant settlement and removing the delays and inefficiencies of legacy systems.

Garlinghouse stated that using XRP for payments allows value to move "in real-time, in seconds." This speed and scalability make XRP a more viable solution for payment providers and banks compared to traditional methods. He compared XRP to Bitcoin, noting that while Bitcoin takes up to 12 minutes to complete one transaction, XRP can do so in about three seconds. This efficiency positions XRP as a superior option for cross-border payments, where speed and cost are critical factors.

Garlinghouse also touched on the broader cryptocurrency environment, acknowledging the ongoing uncertainty and skepticism. Despite this, he maintained that Ripple's use of XRP presents a "real use case solving a real problem for real customers." He characterized the current momentum as the strongest the company has seen in using XRP to move liquidity globally. Garlinghouse emphasized that consumers interacting with services built on Ripple’s technology may not even realize that XRP facilitates the transaction. From the user’s perspective, the benefit comes through faster service and better pricing. “What the consumer sees is simply a better product at a better price,” he said.

The post by XRP Avenger reflects this optimism by highlighting Garlinghouse’s core message of XRP’s speed. The asset’s speed and low cost have made it a popular option for cross-border payments. Many experts have predicted that Ripple, using XRP, will eventually replace SWIFT as the biggest payment processor for international payments. However, it is important to note that these are predictions and not actual outcomes.