Ripple CEO Blasts Market for Ignoring XRP, Analyst Predicts Price Explosion to $1000
The post Ripple CEO Blasts Market for Ignoring XRP, Analyst Predicts Price Explosion to $1000 appeared first on Coinpedia Fintech News
Ripple CEO Brad Garlinghouse has voiced his frustration over the lack of recognition for XRP in the crypto market. In spite of its regulatory clarity in the U.S., XRP’s value below $0.5 sparks frustration and negative sentiments, with some calling it a “dead coin”.
This frustration arises from XRP’s status as one of the worst-performing crypto assets in the current bull market.
Ripple CEO’s Question XRP’s Position
In a recent interview at the XRP Ledger Apex conference, Brad Garlinghouse highlighted XRP’s distinct regulatory advantage. Unlike many other cryptocurrencies, XRP is one of the few in the U.S. that has been definitively ruled not to be a security.
After the court ruling in July 2023, XRP’s price soared by over 100% within 24 hours, reaching a peak of $0.93. However, this spike was short-lived, and XRP’s value has since fallen from its July high.
Despite being relisted on major U.S. exchanges like Coinbase, Gemini, Crypto.com, and Kraken, as well as being reinstated in Grayscale’s investment products, XRP’s value has since dropped by approximately 50%.
Garlinghouse expressed his surprise that the market hasn’t rewarded XRP for its regulatory clarity. He differs XRP’s position 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 kind of rewarded it.”
XRP Journey From $1 to $1000
Notably, Pro-XRP crypto commentator BarriC recently shared his thoughts on XRP’s potential, suggesting that its current underperformance is only temporary. He predicts that when XRP regains the $1 price point it lost three years ago, the community’s reaction will likely be quiet.
$XRP at $0.51 = frustration, it’s a joke, it’s dead$XRP at $1 =
it’s only $1?! Let me buy more meme coins$XRP at $3 = pathetic ATH $XRP at $5 = confusion from the masses. Why is it starting to move?$XRP at $10 = FOMO starts manifesting, people will still be in denial…
— BarriC (@B_arri_C) June 13, 2024
Till the time XRP nears $5, BarriC believes that the fear of missing out (FOMO) won’t truly kick in until it hits $10.
At the $100 mark, he argues, people will start to see XRP’s utility in payments and real-world asset (RWA) tokenization, which will drive more investment interest. Finally, if XRP reaches $1,000, BarriC speculates that the crypto community will view XRP as essential, with people even saving up to buy one XRP at that price.
