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- Ripple CEO Brad Garlinghouse has predicted that the global crypto market will reach $5 trillion, projecting a bullish outlook for XRP.
- His prediction suggests that the market will double from the current estimates, meaning XRP will see its price per coin reach well over $1.02.
Ripple CEO Brad Garlinghouse has shared a fairly optimistic outlook over the future of XRP and the global crypto market. Speaking at this year’s Consensus, Garlinghouse told attendees that he expects the global crypto market cap to reach $5 trillion in the future.
The CEO pointed to macroeconomic trends, highlighting rising adoption, friendly crypto regulation, and the rise of crypto ETF products. During his discussion, the CEO hailed Bitcoin which has attracted over $50 billion in ETF investment. Drawing a comparison from the listing of SPDR Gold Shares ETF on New York Shares in 2004, he notes that this product took nearly 3 years to reach $10 billion in investment. BlackRock’s IBIT Bitcoin ETF which is the most successful ETF in the space, has attracted over $20 billion in less than 6 months.
XRP is primed in the race to become a global leader in the crypto market, this could see it take up much of the market share. Garlinghouse has predicted that an XRP ETF could hit the market as early as 2025. By this, he suggests that the Ripple v. SEC case will be settled.
The U.S. SEC is mandated with the approval of ETF products and it remains unlikely that the agency would approve any potential filing for XRP which is still being disputed in court over its status. The Ripple CEO has in the past backed Ripple to win the case, a stance backed by numerous legal experts. With the case nearing its end, the CEO is confident of a win and continued growth of the digital asset and its corresponding ecosystem.
The global crypto market currently stands at around $2.5 trillion, with Bitcoin (BTC) holding the bulk of it. XRP has a nearly $30 billion market cap. Bitcoin looks poised to keep leading the market, potentially holding the bulk of the projected $5 trillion market cap.
Although Ethereum which has the second largest cap in the market, before its legal case with the SEC, this position was contested by XRP. It stands to reason that XRP could once again climb to second place. In this case, XRP could propel to a new all-time high.
A fairly conservative projection is that XRP will double its price, reaching a market cap of $60 billion with every coin exchanging for $1.02.
At the time of writing, XRP is trading for $0.5251 after a marginal change in the past couple of days. Some market experts have stated that the altcoin is undergoing a consolidation phase led by whales. This is followed by a price breakout with bulls eyeing the $0.75 resistance as the next key target.
