Ripple CEO Foresees Market Cap Doubling by 2024, XRP Aims for a Rise Above $0.60
The cryptocurrency market is on the verge of a significant shift, as Ripple's CEO Brad Garlinghouse asserted in an interview with CNBC reported by Blockchain-Hero. He predicted that the total market capitalization could double by 2024. Amid ongoing consolidation, XRP is looking to surpass the psychologically crucial $0.60 threshold.
Garlinghouse is optimistic about the macro trends in the crypto industry, pointing to factors such as the potential debut of a US spot Bitcoin ETF and the forthcoming halving events as potential engines of growth. Furthermore, pro-Ripple attorney Bill Morgan emphasized discrepancies in the SEC's case against Ripple and deliberated whether sales with steep discounts had a meaningful effect on prices.
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XRP Technical Analysis Indicates Possible Growth
Technical analysis suggests that XRP has upside potential—if it successfully closes above $0.60, it could enable further gains; on the flip side, failure to do so could lead to a retraction to support levels near $0.5386, as per FXStreet's German site, which was also referenced in Blockchain-Hero's coverage.
Dogecoin Competition: Could DOGE Surpass XRP?
When compared to Ripple's native asset, Dogecoin (DOGE) has recently crossed the $0.20 mark, nearing its annual peak as reported by finanzen.net. This is a significant feat given its competitive stance with XRP in terms of market cap rankings. With just a 17% increase, DOGE could outstrip XRP in market position, having already experienced liquidation of more than three million dollars in short positions within a single day, boosting its trading volume amid anticipations of an enduring bull trend for the coming months.
