Where the XRP has been struggling between the Ripple vs. SEC case, the Ripple CEO has predicted how 2024 will be for crypto investments. 

The crypto market is still down, and all the major cryptocurrencies are facing dips for almost a week now. While the market is down, Brad Garlinghouse’s crypto prediction is lifting the expectations of crypto investors. 

In this blog, let us discuss what the Ripple CEO has predicted for the 2024 crypto market. 

Ripple CEO Believes Crypto Market To Double In Size

Ripple CEO Brad has recently expressed the possibility of seeing the crypto market rise double in numbers to reach $5 Trillion by the end of 2024. 

In an interview with CNBC, Brad said that, 

I have been around this industry for a long time, and I have seen these trends come and go. I’m very optimistic. I think these macro trends, the big picture things like the ETFs, they are driving for the first time real institutional money

Brad mentioned the spot Bitcoin ETFs and the halving event as the major contributors to making this $5 Trillion possible. To which many other analysts seem to be agreeing. 

He continued to explain the increased demand in the market but not the supply. And no one requires an economics degree to understand what happens when the demand is higher than supply, said Garlinghouse. 

Spot Exchange Traded Funds Dominate the Crypto Market. 

The US SEC approved the Spot Bitcoin ETF on the 10th of January, which permits institutions and investors to trade into ETFs. Soon, Bitcoin ETF rose to success and gained huge support from investors, leading to $484 in inflows. 

But that is not all, as more ETF options are also on hold, waiting for SEC approval. The investors are urging the SEC for the approval of Ethereum ETF based on Bitcoin ETF’s success. Though the Ethereum ETF outcome is pending till May, a positive result is anticipated. If Spot Ethereum ETF gets approved, the analyst believes the market will bloom like never before. 

Talking of Bitcoin halving, the past three halving records have indicated a long bull run, pushing the crypto market to the next level. If that happened this year as well, the Ripple CEO’s prediction might turn out to be true. 

Also Read: 2 Altcoins To Sell Pre-Bitcoin Halving

Ripple Token (XRP) Price Analysis

XRP price has declined a lot in the last month, even in the finest performance of the crypto market. At the time of writing, XRP is trading at $0.5955 with a trading volume of $32,781,821,568. Though XRP surged to a high of $0.735 in the middle of March, the price has fallen more than 4% in a month. 

Even in this downtrend, the trading volume has surged for XRP. It is presently at $1,033,038,597 after a hike of 20%. 

Conclusion

With the current market situation, it is challenging to understand the statement of Ripple CEO. However, the Bitcoin ETF and upcoming halving are significant factors that can push the crypto market higher. It has to see how the Prediction of Ripple CEO turns out. 

Read More Top Crypto Losers of Last Week

The post Ripple CEO Brad Garlinghouse’s Crypto Prediction For 2024 appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am