Ripple CEO Brad Garlinghouse has made a bold prediction about the future of the global crypto market, foreseeing it reaching a whopping $5 trillion. This optimistic outlook extends to XRP, with Garlinghouse anticipating that the coin’s value will surpass $1.02 per coin as the market doubles from its current estimates.
During a speech at this year’s Consensus event, Garlinghouse highlighted various factors contributing to his positive outlook. These include increasing adoption, favorable crypto regulations, and the emergence of crypto ETF products. The CEO praised Bitcoin for attracting over $50 billion in ETF investments, drawing comparisons to the success of the SPDR Gold Shares ETF back in 2004.
Garlinghouse believes that XRP is well-positioned to become a dominant player in the crypto market, potentially capturing a significant share of the market. He even suggested that an XRP ETF could enter the market by 2025, contingent on the resolution of the ongoing Ripple v. SEC case.
Despite the legal challenges facing XRP, Garlinghouse remains confident in Ripple’s ability to emerge victorious. With the case nearing its conclusion, the CEO foresees continued growth for XRP and its ecosystem.
Currently, the global crypto market is valued at around $2.5 trillion, with Bitcoin leading the pack. XRP, with a market cap of nearly $30 billion, has the potential to challenge for a larger share of the market in the future.
While Ethereum has traditionally held the second-largest market cap, XRP could reclaim that position once its legal troubles are resolved. This could propel XRP to new heights, potentially reaching an all-time high.
A more conservative estimate suggests that XRP could double in value, with a market cap of $60 billion and a price of $1.02 per coin. As of now, XRP is trading at $0.5251, showing signs of consolidation before a potential price breakout.
Market experts believe that XRP’s current phase is influenced by large investors, with bullish sentiments targeting the $0.75 resistance level as the next milestone.