More Pro Crypto: Ripple CEO Brad Garlinghouse forecasts a shift towards a more supportive U.S. stance on cryptocurrency after the upcoming elections.
In a recent interview with CNBC Brad Garlinghouse the CEO of Ripple Labs. He shared his positive views about cryptocurrency in the United States. He thinks that after the upcoming elections the U.S. will support crypto more than ever. Both Kamala Harris and Donald Trump have expressed their opinions on digital assets. Garlinghouse comments help us understand how the election results could affect the crypto world and the future of XRP.
The Importance of the 2024 Election for Crypto
The 2024 elections are crucial for the future of cryptocurrency in the U.S. Garlinghouse noted that this election could change how Congress treats digital assets. He believes that no matter the outcome, the U.S. will be more supportive of crypto than ever before. No matter what happens, we’re going to have a Congress that supports innovation more than we’ve ever seen, he stated.
The Ripple CEO mentioned that Trump has called himself the “crypto president” and has been a strong supporter of cryptocurrency. On the other hand, Harris’s team has taken a more careful approach, but Brad Garlinghouse noted that they have recently made positive comments about the industry. This political situation shows that there is a growing understanding of how important cryptocurrency is to the U.S. economy.
Ripple’s Position in the Crypto Space
Even with ongoing problems, especially the SEC lawsuit against Ripple, Garlinghouse remains hopeful about XRP’s future. Currently XRP is trading at about $0.5250, which is a slight decrease of 0.5% in the last 24 hours. This drop comes as Bitcoin is increasing in value and trying to break the $69,000 resistance level.
Various factors will need to align for XRP to achieve significant price milestones—such as $100 or even $1,000. A confluence of increased adoption, favorable regulatory decisions, and strategic partnerships with major financial institutions could propel XRP to these ambitious price points.
A Bright Future for XRP: Factors Influencing Price Growth
1-Year Outlook for XRP
Brad Garlinghouse believes that if XRP makes important partnerships with big banks and financial institutions its price could go up a lot within a year. While there are discussions about these partnerships, many of them are not confirmed yet.
Additionally, if there is a positive ruling from the SEC and other regulators in Europe and Asia, the price could go up quickly. If the supply of XRP decreases and smart contracts are introduced on the XRPL. It could help XRP reach over $1,000 within that time.
5-Year Projections for XRP
Most people in the crypto community believe that XRP could realistically hit $100 or $1,000 in the next five years. This timeline means that Ripple needs to make its payment network the standard for cross-border transactions. Also, the expected launch of a spot XRP ETF could greatly increase prices. Garlinghouse thinks that getting this ETF approved is likely because Bitcoin and Ethereum both saw steady growth after their ETFs were approved, rather than sudden jumps.
10-Year Predictions for XRP
For conservative investors, the 10-year plan sees XRP’s value rising slowly as more people start using it, especially in developing markets. The traditional financial world is taking its time to accept digital assets, which means XRP could reach $100 or $1,000, but it will happen more slowly.
The Path to $100 and $1,000: Historical Context
XRP has a history of big price increases. In the 2017 bull run, XRP saw returns of over 110,000% from its lowest point during a bear market. Even with legal issues in 2021, the price rose by more than 1,000%. These historical precedents provide a foundation for optimism regarding XRP’s future price movements.
If something surprising and good happens, like a positive outcome in the SEC lawsuit the price could go up much higher than we think. However, if the market has negative trends, the price might drop to as low as $0.20. This shows just how unpredictable the cryptocurrency market can be.
Ripple CEO Stance More Pro Crypto: Conclusion
Brad Garlinghouse’s stance on being More Pro Crypto shows his strong belief that the U.S. will support cryptocurrency more after the elections. This could mean big changes for the crypto world. Both political parties see how important digital assets are. Because of this, XRP may have a better chance to succeed.
Whether through supportive rules, important partnerships, or more people using it, the foundation is being built for XRP to reach big price goals. Investors and crypto fans are keeping an eye on what happens before the elections, wondering how these political changes will affect the whole cryptocurrency market. The growing excitement about a “more pro crypto” environment could be exactly what XRP needs to hit its ambitious targets.
In conclusion, while the future of XRP looks promising with potential political support, always do your research before investing. Follow CoinMozo on X for the latest updates!
Also Read: XRP ETF Approval ‘Inevitable,’ Says Ripple CEO Amid SEC Appeal
