Ripple CEO Brad Garlinghouse shared his thoughts on the future of XRP during a recent appearance on the Citizens JMP podcast.
Garlinghouse expressed confidence in XRP’s growth, likening its rise to a basketball being held underwater.
“If you hold a basketball underwater long enough, eventually it shoots up,” he said, hinting at XRP’s current trajectory after years of suppression from external factors.
XRP Can’t Stay Underwater Forever
Notably, XRP traded largely between $0.40 and $0.50 for years before a turnaround occurred in November 2024.
During this time, even amid broader crypto bull runs, XRP’s price remained low, and proponents often attributed the situation to theoretical suppression by external factors. Most directed their accusations at Ripple’s ongoing regulatory challenges with the SEC.
However, soon after SEC Chairman Gary Gensler announced his resignation in November, XRP’s bull run gained historic momentum. Specifically, the XRP price surged to a seven-year high weeks later, reaching $2.90 before settling around $2.40, where it now maintains a stable price range.
Ripple’s Garlinghouse attributed the sudden price surge to XRP being securing freedom from the regulatory weight that had hindered its uptrend. “Now, we’re seeing a change. It feels vindicating, honestly,” he said.
XRP to Continue Rising, Urges Focus on Long-Term Perspective
Garlinghouse argued that its rise wouldn’t be surprising if XRP had received a level playing field. Accordingly, he predicts that XRP will continue to soar.
He reminded listeners that XRP was once the second-most valuable cryptocurrency after Bitcoin before facing “factors that were exogenous—perhaps unnatural or unethical in some ways.”
While acknowledging XRP’s recent surge, Garlinghouse emphasized the importance of maintaining a long-term perspective.
He highlighted that Ripple focuses on building the infrastructure for an “internet of value,” where XRP plays a pivotal role. Garlinghouse urged employees to focus on Ripple’s mission and disregard market fluctuations.
Garlinghouse’s Crypto Market Outlook
Garlinghouse also shared his optimistic outlook for the broader cryptocurrency market. He had previously predicted the market could reach $5 trillion by the end of 2024. While the total market cap is currently at $3.5 trillion, he stressed that it remains on a strong upward trajectory.
His belief in the inflation-resistant nature of cryptocurrencies fuels his optimism. He foresees continued growth in the space as institutional demand and U.S.-centric blockchain initiatives gain traction.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
