Brad Garlinghouse, the CEO of Ripple, has made a bold prediction about the future of the global cryptocurrency market, foreseeing it reaching a staggering $5 trillion. This optimistic outlook extends to XRP, with Garlinghouse anticipating the price per coin to surpass $1.02 as the market doubles from its current estimates.
Addressing attendees at this year’s Consensus, Garlinghouse expressed his confidence in the potential growth of XRP and the overall crypto market. He attributed this positive outlook to various macroeconomic factors, such as increased adoption, favorable crypto regulations, and the emergence of crypto ETF products. Notably, he highlighted the success of Bitcoin ETFs, with over $50 billion in investments, drawing parallels to the rapid growth of the SPDR Gold Shares ETF in the early 2000s.
With XRP positioned as a frontrunner in the global crypto market, Garlinghouse envisions a future where XRP could dominate a significant portion of market share. He even suggested the possibility of an XRP ETF entering the market by 2025, contingent on the resolution of the ongoing Ripple v. SEC lawsuit.
Despite the regulatory challenges faced by XRP, Garlinghouse remains optimistic about the outcome of the legal battle and the continued growth of the digital asset and its ecosystem. As the global crypto market currently hovers around $2.5 trillion, with Bitcoin leading the pack, XRP maintains a market cap of nearly $30 billion. There is a potential for XRP to reclaim its spot as the second-largest cryptocurrency by market cap, alongside a projected market cap of $60 billion and a price of $1.02 per coin.
At present, XRP is trading at $0.5251, experiencing minor fluctuations in recent days. Market analysts suggest that the altcoin is in a consolidation phase driven by large investors, with a potential price breakout targeting the $0.75 resistance level as the next milestone to watch for.