Ripple CEO: The Recent Market Downturn Is Just a Hiccup

In the current market climate, it is more important than ever for new investors to be patient and stay the course.

Ripple

In a recent thread, Ripple (XRP) CEO Brad Garlinghouse urged new crypto investors to remain calm in the face of recent market downturns. He cited that such dips are commonplace in the cryptocurrency space and shall eventually pass.

This sentiment is shared among other industry insiders, who believe that the current bear market is simply a natural correction following last year’s bull run.

So, if you’re new to cryptocurrencies and feeling a little uneasy about recent price declines, don’t worry – you’re definitely not alone. Experts say that these fluctuations are normal and will eventually subside. And when they do, we can expect even greater things from the crypto space!

“Days like today are never what you hope to see, esp. in an industry w/ as much incredible talent as crypto. If you recently joined the industry and haven’t seen a downturn like this, know that this too shall pass (advice from someone who’s seen a few downturns over the years),” Garlinghouse’s tweet said.

Interestingly, after every crash, the asset class has come out stronger than ever as the underlying technology of blockchain has continued to evolve and mature, attracting more and more institutional investors.

Garlinghouse later offered some advise to new crypto investors, explaining how his company has weathered the cyclical bear markets. He noted that first and foremost, Ripple is focused on the long-term and doesn’t let market fluctuations dictate its plans. Additionally, the company has recruited “an experienced exec team that has been through the dot com bubble, 2008 financial crisis, 2018 crypto winter and more.”

According to Garlinghouse, this focus on stability has helped Ripple weather the current market conditions and position itself for future success.

He further said that while the market is “likely going to shrink in the near term”, he remains confident that crypto will do well in the future.

“The market is likely going to shrink in the near term, but I and many others have every ounce of confidence that crypto will succeed in the future as an integral part of our global financial systems. Slow and steady wins the race.”

Price Action

XRP lost 0.20% during today’s trading and changed hands at $0.3142, accelerating its weekly decline to about 20%.

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