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Ripple CEO Blasts Market for Ignoring XRP, Analyst Predicts Price Explosion to $1000
Ripple CEO Brad Garlinghouse has expressed his frustration over XRP’s low valuation in the cryptocurrency market. Despite having clear regulatory approval in the United States, the value of XRP remains less than $0.5causing negative feelings and leading some to call it a “dead currency”.
Read on to find out what the experts think and what the future may hold for this controversial cryptocurrency.
XRP’s Regulatory Advantage: A Mixed Blessing
Garlinghouse’s frustration stems from XRP’s poor performance in the current bull market. In a recent interview at the XRP Ledger Apex conference, he highlighted XRP’s unique regulatory status. Unlike many other cryptocurrencies, XRP has been definitively declared not to be a security in the United States
After the court sentencing in July 2023, the price of XRP increased by more than 100% in 24 hours, reaching a peak of $0.93. However, this spike was short-lived and the value of XRP has since fallen from its July high.
Why does nothing increase XRP?
Despite being listed on the main US stock exchanges such as Coinbase, Gemini, Crypto.com and Kraken, and reinstated in Grayscale’s investment products, the value of XRP dropped by approximately 50%. Garlinghouse expressed his surprise that the market has not recognized XRP’s regulatory clarity, contrasting it with Ethereum (ETH), which still faces regulatory uncertainty.
“I think it’s strange that XRP is in such a unique position, and the market hasn’t rewarded it,”
Future Outlook: A Pro-XRP Perspective
Pro-XRP crypto commentator BarriC recently shared his thoughts on XRP’s potential, suggesting that its current underperformance is temporary. He predicts that when XRP regains the $1 price it lost three years ago, the community reaction will be muted. BarriC believes that fear of missing out (FOMO) will not be felt until XRP approaches $5.
BarriC predicts a future where, at $10, XRP starts to attract significant attention. At the $100 mark, he argues, XRP’s utility in payments and tokenization of real-world assets (RWA) will become apparent, sparking greater investment interest. Finally, if XRP reaches $1,000, BarriC hypothesizes that the crypto community will consider XRP essential, with people even saving up to buy an XRP at that price.
Read also: Cryptocurrency Market Collapse: How Much Can Bitcoin and Altcoins Fall?
The future of XRP remains uncertain and the next chapter has yet to unfold.