Ripple Chief Says Global Economy Entering Uncharted Waters, Markets Are ‘Extremely Resilient’

Ripple CEO Brad Garlinghouse is making his first public comments about the coronavirus pandemic and its impact on the global economy.

The head of the San Francisco payments startup says his number one focus is now on the health of his team.

Ripple, which operates out of one of the hardest-hit regions in America, is asking staff to work at home and use video conferences to stay in touch.

“Like many businesses, Ripple’s highest priority is the well-being of team at 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.”

As for the economic fallout from the virus, Garlinghouse expects the markets to bounce back.

“Our global economy is in uncharted waters, but what I’ve learned from history: markets are extremely resilient.

Ripple directly feels the volatility in the crypto markets. The company holds more than half of all XRP in existence and has watched the value of its holdings plummet more than $10 billion in the aftermath of global economic pullback.

XRP is currently up 6.81% at $0.1549, according to CoinMarketCap.

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