In 2019, Garlinghouse famously predicted that 99% of all cryptocurrencies would go to zero. According to him, the industry is in its"pre-Cambrian" stage, since there is still a lot of experimentation.In December 2020, the U.S. Securities and Exchange Commission filed its lawsuit against Ripple Labs and two of its executives, alleging that $1.3 billion in sales of XRP constituted unregistered securities.
Immediately after the lawsuit was filed, XRP's price drastically fell to around 20 cents. Despite this and its subsequent delisting by certain exchanges, XRP nevertheless continued to rank among the top 10 cryptocurrencies by market cap.It goes on to show that, regardless of circumstances, the XRP value proposition remains constant.
The XRP Ledger platform has been operating without a hitch since its June 2012 launch. XRP experienced a phenomenal increase from the end of 2017 to the beginning of 2018, increasing by thousands of percent and temporarily overtaking Ethereum as the second-largest cryptocurrency. At the time of publication, XRP was trading at $0.40 and ranked as the sixth-largest cryptocurrency with a market valuation of $20.5 billion.
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