Forecasts for the crypto-asset market from the CEO of Ripple: Estimation by the end of 2024
Date: 2024-04-09 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Ripple Labs CEO Brad Garlinghouse has made his predictions for the future of the digital asset market, claiming it will reach an astonishing $5 trillion by the end of 2024. In his opinion, the key factors for such growth will be the approval of spot Bitcoin ETFs and the upcoming halving of the first cryptocurrency.
Increased demand and decreased supply
Garlinghouse argues that in this context, the demand for digital assets will continue to increase while the supply will decrease. This dynamic imbalance, in his opinion, stimulates the growth of the value of cryptocurrencies and provides fertile ground for the further development of the industry.
The Impact of Crypto ETFs on Institutional Investments
The Ripple CEO noted that the launch of cryptocurrency ETFs has attracted “real institutional money” to the industry, which in turn contributes to the integration of cryptocurrencies into the traditional financial sphere. This, in his opinion, opens up new investment opportunities and strengthens the role of cryptocurrencies as a financial instrument.
Policy landscape and regulatory aspects
Garlinghouse paid special attention to the political aspects and regulatory environment in the United States. He expressed the opinion that the upcoming presidential elections could lead to significant changes in the highest echelons of power, open to supporting the digital asset sector.
Legal controversy
It is important to note that Ripple is in an active legal battle with the American regulator, the US Securities and Exchange Commission (SEC). In March 2023, the SEC ordered the company to pay a fine of $2 billion, which is a significant factor in the context of its current market position.
Forecasts and assessments from Ripple's CEO about the future of the crypto asset market provide an interesting perspective on the development of this dynamic and innovative industry in the coming years. However, despite the optimistic predictions, the company remains in the spotlight due to its legal conflicts with regulators.
