Brad Garlinghouse, the CEO of Ripple, has made a bold prediction regarding the future of the global cryptocurrency market. He anticipates that the market will skyrocket to $5 trillion, paving the way for a bullish outlook on XRP.
Garlinghouse’s forecast suggests that the market will double from its current estimates, indicating that the price per XRP coin will exceed $1.02 by a significant margin. His positive outlook on XRP and the overall crypto market was shared during this year’s Consensus event.
During his address, Garlinghouse emphasized key macroeconomic trends that are driving the growth of the market, such as increased adoption, favorable regulatory environments, and the emergence of crypto ETF products. He highlighted Bitcoin’s success in attracting over $50 billion in ETF investments, drawing parallels with the listing of SPDR Gold Shares ETF back in 2004.
Garlinghouse believes that XRP is well-positioned to become a dominant player in the global crypto market, potentially capturing a significant market share. He even went as far as to predict the launch of an XRP ETF as early as 2025, provided that the ongoing Ripple v. SEC case is resolved in favor of Ripple.
Despite the uncertainty surrounding XRP’s legal status, with the SEC still embroiled in a legal battle with Ripple, Garlinghouse remains confident in Ripple’s ability to emerge victorious and continue its growth trajectory. The CEO’s optimism is fueled by support from legal experts and the nearing conclusion of the case.
Currently, the global cryptocurrency market sits at approximately $2.5 trillion, with Bitcoin dominating the majority of the market share. XRP boasts a market cap of nearly $30 billion and could potentially challenge Bitcoin’s supremacy in the future $5 trillion market.
While Ethereum has historically held the second-largest market cap, XRP is poised to reclaim that position once its legal issues are resolved. This could propel XRP to new heights and potentially set a new all-time high.
A conservative estimate suggests that XRP could double in price, reaching a market cap 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 experts anticipate a consolidation phase followed by a price breakout, with $0.75 as the next key resistance level to watch out for.
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