Ripple CEO Forecasts Crypto Market to Double by 2024

With his most recent forecast on the cryptocurrency market in 2024, Brad Garlinghouse, the CEO of Ripple, has caused a stir. Garlinghouse recently gave an audacious prediction in an interview with CNBC, predicting that the cryptocurrency market will be worth an astounding $5 trillion by the end of the year.

The market value of cryptocurrencies worldwide as of right now is approximately $2.58 trillion. According to Garlinghouse’s prediction, this value will double over the following eight months.

Why is Garlinghouse projecting such an optimistic outcome? He cites a number of reasons, such as the approaching Bitcoin halving event and the increasing participation of institutions via Bitcoin exchange-traded funds (ETFs). “Having worked in this field for a considerable amount of time, I’ve seen these trends come and go,” Garlinghouse said in the interview. He emphasized how real institutional money was flooding cryptocurrency exchange-traded funds (ETFs) at the same time that the daily supply of Bitcoin was declining.

Within the XRP community, optimism has been fueled by Garlinghouse’s bullish sentiment. He has emphasized that there could be big changes in the cryptocurrency space, especially for XRP and Ripple.

Garlinghouse’s prediction is already being met by Ripple, which has declared that it will introduce a USD stable coin on the XRP Ledger before year’s end. Garlinghouse is optimistic about more than just market dynamics; he wants regulatory clarity in the US. Even with his current legal battles with the SEC, he believes that the U.S. position on cryptocurrency will change, which might lead to more market expansion.

Garlinghouse’s projections provide insight into the possible direction and prospects ahead as the cryptocurrency sector continues to expand.