Ripple’s CEO, Brad Garlinghouse, has adjusted his previous prediction of a $5 trillion market capitalization by the end of the year, now suggesting that the market could potentially double. The driving forces behind this potential growth include decreasing supply from events like Bitcoin’s halving and increasing demand, especially from ETFs. Garlinghouse also emphasized the growing recognition of crypto as a valuable asset class, hinting that his previous forecast may have been conservative given the current $2.5 trillion market capitalization.
While discussing the state of U.S. crypto regulations, Garlinghouse criticized the country’s lag behind other nations like Dubai, Singapore, the UK, and the EU in legislative progress. He called for a more proactive and supportive approach towards innovation and compliance in cryptocurrency policy, highlighting the importance of engaging constructively with the crypto-market. Additionally, he expressed optimism about the launch of a USD-backed stablecoin on the XRPL and Ethereum platforms, reflecting increasing confidence among XRP users and investors.
The positive sentiment surrounding XRP’s future outlook is evident in the 2% hike in its value right before Bitcoin’s halving, indicating sustained optimism among investors. Ripple remains a bridge between the traditional financial world and the new world of cryptocurrency, with Garlinghouse describing it as “trade-fi.” The overall market dynamics, regulatory landscape, and technological advancements contribute to the complex interplay of factors driving the crypto-market and shaping its future trajectory.