In the US, the number of confirmed US Covid-19 cases surpassed 10,000, doubling in over two days. Also, American adults of all ages are being sickened by the novel coronavirus. Of the 508 coronavirus potential hospitalized in the US, 38% were between the age of 20 and 54.
China has reported its first day without any new coronavirus infections, three months after the first case was detected while Italy’s death toll has risen to 3,405 overtaking China.
San Francisco-based fintech company Ripple has decided to work remotely. Ripple CEO Brad Garlingouse said, “Like many businesses, Ripple’s highest priority is the wellbeing of team Ripple. As COVID-19 developed over the past several months, the global team has transitioned to remote work, in efforts to stay safe while continuing to support our customers.”
Recently, Nik Bougalis software engineer who is leading the C++ team at Ripple also advised on working remotely just as he has been doing for the past 20 years.
Garlinghouse further talked about helping those in need in this “unprecedented new reality” as they have been ensuring that their customers around the world are able to send money home to their families.
The global pandemic coronavirus (Covid-19) has been affecting the global markets quite brutally. Cryptocurrency markets are just as affected as we saw last week, losing more than $90 billion in less than a month.
According to Garlinghouse, “global economy is in uncharted waters,” but history has taught that “markets are extremely resilient.”
This extreme sell-off resulted in driving XRP to $0.11 and pushing it one rank lower on the 4th spot. Tether (USDT) still dominates the third place, as per Messari.
At the time of writing, XRP/USD has been trading at $0.164, up 13.52% in the past 24 hours.
“Cycles take longer. BTC cycle 2012-2014 & 2014-2018. XRP copying the previous cycle, but only twice as long? Final support before $0.06. Holding here and we could surge to $0.32,” said trader Crypto Michael.
In other news, Asheesh Birla, SVP of Product and Corporate Development at Ripple shared that Ripple would be taking off in the next two years.
“I think ripple will be really taking off in the next 2 years. The world order will be reshuffled using the blockchain technology. I think Asia will lead the pack,” Randi Zuckerberg quoted Birla.
Birla appeared on Zuckerberg’s show as a guest where he shared how Ripple is “revolutionizing” the way payment is moved by using the digital asset to move money effectively across borders.
“I’m excited that we’re seeing real world adoption and that the technology is really improving,” said Birla.
It was in 2013 that Birla, who is the former Vice President of Global Technology at Thomson Reuters, joined Ripple. With Ripple, he “found the Amazon of Blockchain” with the mission to “efficiently and safely move money as quickly as information moves today.”
Birla emphasized that the market needs entrepreneurs who are “solving real problems with blockchain.” They just need to identify how by using the blockchain their product has become better and then “really focus on that.”
The point of using blockchain, a distributed ledger technology is to remove the intermediaries, either banks or other financial institutions, he said.