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 also extends to XRP, with Garlinghouse suggesting that the price per coin could soar well beyond $1.02.
During a speech at this year’s Consensus event, Garlinghouse highlighted various factors contributing to his positive outlook. These include increasing adoption of cryptocurrencies, favorable regulatory developments, and the growing popularity of crypto ETF products. He pointed to the success of Bitcoin ETFs, which have attracted significant investment, with the most successful one garnering over $20 billion in less than six months.
Garlinghouse believes that XRP is well-positioned to emerge as a key player in the cryptocurrency market, potentially capturing a significant market share. He even speculated that an XRP ETF could be introduced as early as 2025, provided that the ongoing legal battle between Ripple and the SEC is resolved in favor of Ripple.
While the SEC’s approval is required for the introduction of ETF products, it is uncertain whether XRP, currently embroiled in a legal dispute, would receive the green light. However, Garlinghouse remains confident in Ripple’s ability to prevail in the case, a sentiment echoed by legal experts. With the lawsuit nearing its conclusion, the CEO anticipates continued growth for XRP and its ecosystem.
The global cryptocurrency market is currently valued at around $2.5 trillion, with Bitcoin dominating the market share. XRP, on the other hand, boasts a market capitalization of nearly $30 billion. Despite Ethereum’s strong position in the market, XRP has the potential to reclaim its spot as the second-largest cryptocurrency, potentially reaching new all-time highs.
A conservative estimate suggests that XRP could double in value, leading to a market cap of $60 billion and a price per coin of $1.02. As of now, XRP is trading at $0.5251, with market experts noting a consolidation phase driven by large investors. A potential price breakout could see XRP aiming for the $0.75 resistance level as its next target.
For those interested in investing in XRP, resources such as a buying guide, wallet tutorial, and real-time price updates are available. Stay informed with the latest news and developments in the world of Ripple (XRP) to make informed investment decisions.