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 exceed $1.02 as the market doubles from its current estimates.
During his speech at this year’s Consensus event, Garlinghouse attributed this growth to various macroeconomic trends such as increased adoption, favorable regulation, and the emergence of cryptocurrency ETF products. He highlighted the success of Bitcoin ETFs, which have attracted over $50 billion in investments, with BlackRock’s IBIT Bitcoin ETF leading the pack by amassing over $20 billion in less than 6 months.
Garlinghouse believes that XRP is well-positioned to become a dominant player in the crypto market, potentially capturing a significant market share. He even went as far as predicting the launch of an XRP ETF by 2025, contingent on the resolution of the ongoing legal battle between Ripple and the U.S. SEC.
While the SEC’s approval is required for ETF products, it remains uncertain whether XRP will receive the green light due to its unresolved legal status. However, Garlinghouse remains confident in Ripple’s ability to emerge victorious in the case, a sentiment echoed by legal experts. As the legal proceedings draw to a close, the CEO remains optimistic about the future growth of XRP and its ecosystem.
With the global crypto market currently valued at around $2.5 trillion, Bitcoin remains the dominant force. Despite Ethereum’s strong presence, XRP is poised to challenge for the second position, potentially reaching a new all-time high in the process.
In a more conservative projection, XRP is expected to double in price, reaching a market cap of $60 billion with each coin trading at $1.02. As of now, XRP is trading at $0.5251, experiencing a period of consolidation before a potential breakout towards the $0.75 resistance level.
Overall, Garlinghouse’s positive outlook on XRP and the crypto market signals a promising future for investors and enthusiasts alike.