In a recent statement, Brad Garlinghouse, the CEO of Ripple, expressed his belief that the global cryptocurrency market is on track to reach a staggering $5 trillion. This optimistic outlook also extends to XRP, with Garlinghouse predicting that the price per coin could surpass $1.02 as a result.
Garlinghouse’s positive sentiments were shared during this year’s Consensus event, where he highlighted various factors contributing to the market’s growth. These include increasing adoption rates, favorable regulatory environments for cryptocurrencies, and the emergence of crypto ETF products. Notably, he praised Bitcoin for attracting over $50 billion in ETF investments, drawing parallels to the success of SPDR Gold Shares ETF in 2004.
With XRP positioned as a potential global leader in the cryptocurrency market, Garlinghouse suggested that an XRP ETF could hit the market as early as 2025, pending the resolution of the ongoing legal dispute between Ripple and the SEC. While the SEC’s approval of ETF products remains crucial, the agency’s stance on XRP’s regulatory status may pose a challenge.
Despite these uncertainties, Garlinghouse remains confident in Ripple’s ability to prevail in the legal battle, a sentiment echoed by legal experts. As the case nears its conclusion, the CEO anticipates continued growth for XRP and its ecosystem.
At present, the global cryptocurrency market is valued at approximately $2.5 trillion, with Bitcoin dominating the landscape. XRP, with a market cap of nearly $30 billion, is poised to potentially challenge Bitcoin’s supremacy and climb to second place.
In terms of price projection, a conservative estimate suggests that XRP could double its value, reaching a market cap of $60 billion with each coin trading at $1.02. Currently, XRP is trading at $0.5251, experiencing slight fluctuations amidst a consolidation phase led by large investors. As the market dynamics evolve, experts anticipate a potential price breakout with a target of $0.75.
For those interested in Ripple (XRP), resources such as a buying guide, wallet tutorial, and real-time price updates are available to stay informed about the latest developments in the cryptocurrency space.