Final answer:
Richie Blackmore, the guitarist of Deep Purple and Rainbow, combined classical music with traditional blues techniques to create the shred style of playing the electric guitar.
Step-by-step explanation:
The Deep Purple and Rainbow guitarist who combined classical music with traditional blues techniques to create a fast new style of playing the electric guitar, known as 'shred', is Richie Blackmore. Blackmore's unique blend of classical influences and bluesy guitar playing helped define the genre of shredding, which is characterized by intricate, fast-paced solos and technical virtuosity.