Brad Garlinghouse, the CEO of Ripple, has made a bold prediction regarding the future of the global cryptocurrency market. He foresees that the market will skyrocket to an impressive $5 trillion, indicating a positive outlook for XRP.
Garlinghouse’s forecast implies that the market will double its current valuation, resulting in XRP’s price per coin exceeding $1.02. At the recent Consensus event, the CEO shared his optimistic perspective on both XRP and the broader crypto market.
Citing macroeconomic developments such as increased adoption, favorable crypto regulations, and the emergence of crypto ETF products, Garlinghouse expressed his confidence in the industry’s growth. He highlighted the success of Bitcoin, which has attracted over $50 billion in ETF investments.
Drawing parallels with the history of other ETF products, Garlinghouse emphasized the rapid growth of BlackRock’s IBIT Bitcoin ETF, which amassed over $20 billion in less than six months. He believes that XRP is well-positioned to establish itself as a dominant player in the crypto market, potentially capturing a significant market share.
Looking ahead, Garlinghouse anticipates the launch of an XRP ETF by 2025, contingent on the resolution of the ongoing Ripple v. SEC legal battle. While the outcome of the case remains uncertain, the CEO remains optimistic about Ripple’s prospects and the growth of its ecosystem.
With the global crypto market currently valued at around $2.5 trillion, Bitcoin maintains its lead, holding a substantial portion of this total. Despite Ethereum’s strong position, XRP could challenge for the second spot once again, potentially reaching new record highs.
A more conservative estimate suggests that XRP could double its price, resulting in a market capitalization of $60 billion with each coin valued at $1.02. As of now, XRP is trading at $0.5251, experiencing minor fluctuations in recent days.
Market analysts believe that XRP is in a consolidation phase driven by significant investors, with a potential price breakout on the horizon. The next key target for bulls is the $0.75 resistance level.
For those interested in investing in Ripple (XRP), a comprehensive guide is available, along with tutorials on XRP wallets and real-time price updates. Stay informed with the latest news and developments in the world of Ripple (XRP) to make informed investment decisions.