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Ripple CEO on $5 Trillion Prediction: "I Underpredicted That"

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Fri, 19/04/2024 - 7:26
Ripple CEO on $5 Trillion Prediction: "I Underpredicted That"
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During a recent interview with Fox Business, Ripple CEO Brad Garlinghouse said that his bullish market prediction about the crypto market reaching $5 trillion might be too cautious.  

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"If anything, I think probably underpredicted that," he said while chatting with Fox Business host Maria Bartiromo.

Even though the price of Bitcoin has experienced a dramatic price decline over the past week, the Ripple boss is convinced that it will continue to see tailwinds because of red-hot exchange-traded funds (ETFs) and the upcoming halving event: 

"I think it will continue to see tailwinds. Partly because of the ETFs that have been approved…But also the upcoming halving, which is imminent," the Ripple boss added. 

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As reported by U.Today, Garlinghouse recently told CNBC that the ETF market could reach $5 trillion by the end of this year. During his most recent interview, Garlinghouse further explained the rationale behind this bullish prediction: "Like any market, this is driven by supply and demand. You have decreasing supply for a whole bunch of reasons…you have increasing demand (the ETF being a key part of that). I think that it's also people realizing that crypto plays a role as an asset."

During the interview, he has also called out Senator Elizabeth Warren for claiming that only bad actors use cryptocurrencies. "It's just not true," he said. He claims that the U.S. should have "a pro-innovation" and "pro-compliance" cryptocurrency policy. "This shouldn't even be a partisan issue," he said. 

At the same time, he believes that Rippe's new stablecoin project will be "great" for XRP after pushing back against skeptics who claimed that the company was giving up on the controversial cryptocurrency. 

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