Ripple CEO criticizes market for overlooking XRP analyst forecasts price surge to 1000
Key Points
– Ripple CEO Brad Garlinghouse frustrated by lack of recognition for XRP in the crypto market despite regulatory clarity in the US.
– Analysts predict XRP could rise to $1000 as its utility in payments becomes more widely recognized.
– XRP’s value briefly surged to $0.93 after a partial win for Ripple, but quickly fell back down.
– XRP labeled as a “dead coin” due to its underperformance in the current bull market.
Ripple CEO Brad Garlinghouse is speaking out about his frustration with the lack of acknowledgment for XRP in the cryptocurrency market. Despite XRP’s clear regulatory status in the United States, its value remains below $0.5, leading to negative sentiments and criticisms that it is a “dead coin.”
Garlinghouse recently addressed XRP’s regulatory advantages at the XRP Ledger Apex conference, emphasizing that unlike many other cryptocurrencies, XRP has been definitively classified as not a security in the US. Following a court ruling in July 2023, XRP’s price briefly spiked by over 100%, reaching $0.93. However, this increase was short-lived, and XRP’s value has since dropped from its peak.
Even with XRP being relisted on major US exchanges and reinstated in investment products, its value has decreased by approximately 50%. Garlinghouse expressed surprise at the market’s failure to reward XRP for its regulatory clarity, contrasting it with Ethereum’s ongoing regulatory uncertainties.
Looking ahead, some analysts, including the prominent Pro-XRP commentator BarriC, believe that XRP has the potential to reach $1000. BarriC suggests that as XRP approaches the $5 mark, the fear of missing out (FOMO) will start to kick in, with significant interest building as it nears $100. If XRP were to reach $1000, BarriC speculates that it would be viewed as an essential asset within the crypto community.
Overall, despite its current underperformance, there is optimism surrounding XRP’s future potential as its utility in payments and real-world asset tokenization becomes more widely recognized.