Ripple’s CEO, Garlinghouse, has made a bold prediction that the global crypto market cap could skyrocket to $5 trillion by the end of the year. This projection is based on macroeconomic trends and the capital influx triggered by the introduction of spot Bitcoin ETFs.
During a recent speech at Consensus, Garlinghouse reiterated his optimism about this prediction, particularly in relation to the impact it could have on the crypto ETF market. This optimistic outlook has generated speculation about the potential effects on various cryptocurrencies, including XRP.
Currently, XRP is trading at $0.5113 with a market cap of $28.3 billion, while the total crypto market cap stands at $2.5 trillion. If Garlinghouse’s forecast comes to fruition, the market would double in value, presenting significant opportunities for XRP.
Assuming a direct proportionality between the overall market and XRP’s market cap, a $5 trillion crypto market could see XRP’s market cap soar to $56.6 billion, bringing its price to around $1.022. This projection suggests a potential doubling of XRP’s current value in line with the broader market expansion.
Some market analysts even believe that XRP hitting $1 would just be the beginning of its upward trajectory. World of Charts has projected a price increase to $5, while CryptoBull has identified a market structure that could push XRP to a three-digit figure of $154.
Achieving such lofty targets could significantly increase XRP’s market cap and market dominance. If XRP were to hit $5, its market cap could reach $276 billion, with a dominance of 5.3% in a $5 trillion crypto market.
It is important to note that the information provided in this article is for informational purposes only and should not be considered financial advice. Readers are advised to conduct their own research before making any investment decisions.