Ripple Explains Why XRP Is More Sustainable Than BTC & ETH

The latest Ripple cryptocurrency news show that the $1 billion head of XRP markets quietly left his job without any formal announcement. Now, Ripple explains this decision by Miguel Vias and in another report, says why the XRP price is more sustainable when compared to BTC and ETH.

How did Ripple lose its second executive in 2020?

Analysts are now talking about how Ripple managed to lose its second executive of 2020 after the Head of XRP Markets, Miguel Vias, updated his LinkedIn status to signal the end of his tenure with the company. Vias was part of Ripple since 2016 after a 5-year role as CME’s Group’s Global Head of Precious Metals Options.

Besides the recent leave, what is even more interesting in the crypto news is a new study which shows that the use of XRP is many times more environmentally friendly than using Bitcoin (BTC), Ether (ETH) or Visa (USD) as a means of payment.

According to the survey made by the World Wildlife Foundation, it takes around 4.25 grams of oil to produce a credit card, which is equivalent to about 79,000 barrels of oil for 2.8 billion credit cards worldwide. This is where XRP can come to play, and as Ripple explains, innovate the world as a digital currency.

But why is XRP better than Bitcoin and Ethereum?

While the XRP price cannot be compared to the ETH price and Bitcoin price, the anatomy of the cryptocurrency can. As the report shows, XRP consumes significantly less energy than Bitcoin and Ethereum. A study conducted by Stanford University Stockholm on the carbon footprint of cryptocurrencies and Visa found out that BTC and ETH are two of the most environmentally damaging currencies available in terms of their annual electricity consumption.

While BTC uses 149 million lightbulbs (energy) to conduct its transactions per year, ETH uses 69 million lightbulbs.  In comparison, Ripple explains that it uses only 14 lightbulbs or 6 dishwashers. The visual comparison can be seen on the image above.

Meanwhile, the XRP price on the market today is $0.1878 with a minimal increase, while BTC is at $7,086 at press time. ETH has managed to add more than 3% to its price and is now trading at $182.