Key Points
- Ripple CEO Brad Garlinghouse predicts a potential doubling of the crypto market by year-end.
- Garlinghouse criticizes the slow progress in U.S crypto regulations compared to other countries.
Ripple Labs CEO Brad Garlinghouse recently revised his prediction for the crypto market’s growth, hinting at a potential doubling by the end of the year.
He made these comments during an interview with Fox Business, stating that his previous prediction of a $5 trillion market capitalization might have been conservative.
Market Drivers and Crypto Regulations
Garlinghouse attributed the market growth to factors such as decreasing supply due to events like the halving, and increasing demand, particularly from ETFs.
He also emphasized the increasing recognition of crypto as a valuable asset class.
Despite potential legislative barriers, Garlinghouse expressed optimism about the U.S’s approach towards crypto-regulations.
However, he also pointed out that the United States lags behind other countries like Dubai, Singapore, the UK, and the EU in terms of regulatory progress and constructive engagement with the crypto-market.
He criticized Senator Elizabeth Warren’s portrayal of crypto users as ‘bad actors’ and called for a pro-innovation and pro-compliance cryptocurrency policy in the U.S.
Ripple’s New Launch
Garlinghouse also discussed the launch of a USD-backed stablecoin on XRPL and Ethereum, stating that Ripple has always been a bridge between the new world and the traditional world.
This move has instilled confidence among XRP users, as evidenced by a 2% increase in XRP’s value right before Bitcoin’s halving.
The positive sentiment surrounding the cryptocurrency remains high, reflecting investor optimism about XRP’s trajectory.
