Ripple has been compared to tech giants like Amazon and Facebook in terms of its potential to become a billion-dollar company. The company’s stablecoin plans and recent legal victories could have a significant impact on its future success.
According to a well-known crypto analyst, Ripple, a cryptocurrency payment business, may reach a valuation similar to that of Amazon and Facebook. Despite recent market volatility and Ripple’s ongoing legal dispute with the US Securities and Exchange Commission (SEC) leading to underperformance of its XRP, this optimistic forecast is justified.
In a recent video posted on the AllinCrypto YouTube channel, the analyst discussed Ripple’s potential to become a billion-dollar company. The analyst boldly predicted that Americans will view Ripple as a “unicorn company,” similar to tech and e-commerce giants like Amazon, Apple, Facebook, and Microsoft.
The analyst emphasized Ripple’s growth trajectory and compared it with that of top tech firms that have made a substantial contribution to the US economy. He pointed out that US treasury members had recognized the value of stablecoins and based his forecasts on Ripple’s objectives.
Additionally, the analyst highlighted a recent Wall Street Journal article that emphasized the ability of cryptocurrencies to prevent a US debt crisis. He revealed that treasury officials are discussing how stablecoins could support the US’s continued economic dominance worldwide, suggesting that these virtual assets could help the country pay off its significant debt.
According to CoinMarketCap data, Ripple’s market cap as of June 4th is over $29 billion. While this is a significant amount, it still pales in comparison to the market capitalizations of tech giants like Facebook and Amazon, which are approaching $1 trillion. For Ripple to become a “unicorn company,” it will need comparable market prices and widespread adoption.
Despite a promising future, the current market performance of XRP is still a cause for concern. The price of XRP has remained around $0.5 for years and has seen significant drops even during times of market optimism.
As of the latest data from CoinMarketCap, XRP is trading at about $0.4887, up 0.19% in the last 24 hours but down 0.26% in the previous week. In addition to market performance, Ripple recently won a significant court case. On June 20, Judge Phyllis J. Hamilton dismissed federal class action claims that XRP was offered as an unregistered security.
Overall, Ripple’s stablecoin plans and recent legal victories could play a crucial role in shaping its future success and potential to become a billion-dollar company.
