In a recent interview with CNBC, Brad Garlinghouse, the Ripple CEO, expressed his strong confidence in the cryptocurrency market, predicting a substantial increase in market capitalization before 2024 comes to an end. Brad Garlinghouse believes that the global crypto market could potentially reach a staggering $5 trillion by Q4, with Bitcoin playing an important role in the growth.
Responsible Key Factors
Garlinghouse highlighted several huge factors contributing to this futuristic outlook. The first one is the recent XRP ruling approval by the US SEC of spot Bitcoin exchange-traded funds (ETFs). This regulatory milestone has opened the doors of opportunities for the whole market.
Hence, Ripple CEO Brad Garlinghouse predicts a $33 billion bull run.
Another major event that has shaped Garlinghouse’s bullish stance is The Bitcoin Halving event. Historically, Bitcoin halvings have triggered substantial price rallies, driven by the reduction in supply and subsequent increase in demand.
Current Position Of Ripple
As of now, Ripple is trading for $0.5667 reflecting an increase of 0.3%. Garlinghouse has stressed the role of altcoins, meme coins, and stablecoins, as an important factor contributing to the overall growth of the market.
XRP Vs SEC
Amid regulatory challenges, including the ongoing XRP Ripple lawsuit with the SEC over XRP’s classification, Garlinghouse remains optimistic about Ripple’s stance and believes that XRP is not a security. He also emphasizes the importance of regulatory changes for the market’s growth.
Suggested Read: What’s Going On With Ripple Lawsuit?
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