Brad Garlinghouse, the CEO of Ripple, has made a bold prediction regarding the future of the global crypto market, forecasting that it will reach a staggering $5 trillion. This optimistic outlook also extends to XRP, with Garlinghouse anticipating that the price per coin will surpass $1.02 as the market doubles from its current estimates.
Speaking at this year’s Consensus event, Garlinghouse highlighted various macroeconomic factors that contribute to this bullish forecast. He emphasized the increasing adoption of cryptocurrencies, favorable regulatory developments, and the emergence of crypto ETF products. Notably, he praised Bitcoin for attracting over $50 billion in ETF investments, drawing parallels to the rapid success of BlackRock’s IBIT Bitcoin ETF.
In terms of market dominance, XRP is positioned to become a frontrunner in the crypto space, potentially capturing a significant share of the market. Garlinghouse even suggested that an XRP ETF could be launched by 2025, contingent upon the resolution of the ongoing legal battle between Ripple and the SEC.
Despite uncertainties surrounding XRP’s regulatory status, Garlinghouse remains confident in Ripple’s ability to prevail in the legal dispute. With the case nearing its conclusion, he anticipates continued growth for XRP and its ecosystem, propelling the digital asset to new heights.
As of now, the global crypto market is valued at approximately $2.5 trillion, with Bitcoin dominating the majority of the market share. XRP, with a market cap of nearly $30 billion, has the potential to challenge Bitcoin’s supremacy and potentially reclaim its position as the second-largest cryptocurrency.
While Ethereum currently holds the second spot, XRP could regain its standing once the legal uncertainties are resolved. This optimistic scenario could see XRP achieving a new all-time high and doubling its market cap to $60 billion, with each coin trading at $1.02.
Currently, XRP is trading at $0.5251, experiencing minor fluctuations in recent days. Market analysts believe that the altcoin is undergoing a consolidation phase driven by large investors, with a potential breakout expected to target the $0.75 resistance level.
For those interested in investing in Ripple, a comprehensive guide on buying XRP, setting up a Ripple XRP wallet, and monitoring real-time price fluctuations is available. Stay informed with the latest news and developments in the Ripple (XRP) ecosystem to make informed investment decisions.