Ripple's XRP
XRP
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Bitcoin, Ethereum, XRP, Solana, Dogecoin and the combined crypto market have more than doubled in size to about $3 trillion in the last year, and traders are bracing for another China earthquake.
Now, as crypto halving data suggests Bitcoin prices could experience their biggest month on record, Brad Garlinghouse, CEO of XRP developer Ripple, says the crypto market will remain strong until the end of 2024. predicted that it could double again.
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Brad Garlinghouse, CEO of XRP developer Ripple, predicted compounding Bitcoin. … [+]
“The overall market capitalization of the cryptocurrency industry…is easily predicted to double by the end of this year… [as it’s] It's influenced by all these macro factors,” Garlinghouse said. CNBCmentions an expected major Fed reversal, an impending halving of Bitcoin supply, and increasing positive regulatory momentum in the US.
“One of the things I would actually say in terms of macro tailwinds for the industry is I think it's going to be more clear in the U.S.,” Garlinghouse said. “The United States is still the largest economy in the world, but unfortunately one of the most hostile crypto markets. And I think that will start to change.”
The US Securities and Exchange Commission (SEC) remains embroiled in a long-running legal battle with Ripple over the sale of XRP. It was reported earlier this month that the SEC was seeking a $2 billion fine against the company, but Garlinghouse said he expected the settlement to be in the millions of dollars.
“I've been in this industry for a long time and I've seen these trends come and go,” Garlinghouse said. “I'm very optimistic. I think macro trends, big-picture things like ETFs are moving real institutional money for the first time.”
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Although XRP prices have risen over the last year, they are still well below their all-time highs. … [+]
Bitcoin prices have already risen this year with the long-awaited debut of Wall Street's spot Bitcoin exchange-traded funds (ETFs), where investors poured money into funds and accumulated huge amounts of Bitcoin.
Currently, all eyes are on the next halving of Bitcoin's supply. Bitcoin's halving is the fourth supply cut scheduled for April 18th, when the number of newly issued Bitcoins for the so-called miners that maintain the network will be reduced from the current 6.25 Bitcoins to 3.125 Bitcoins.
“That drives up demand, and at the same time demand is increasing, you see supply decreasing. I'm an economics major and understand what happens when supply contracts and demand expands. I can tell without it,” Garlinghouse said.
last week. Ripple shocked the crypto market this year when it announced it would create its own dollar-pegged stablecoin, scheduled to launch on the XRP ledger and Ethereum blockchain.
