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- Crypto analyst contends XRP as the next Bitcoin, reflecting on CEO’s earlier remarks.
- XRP’s value could rise if regulatory challenges addressed
- XRP up 4% in a week, trading volume surges 27%
JackTheRippler, a well-known cryptocurrency analyst recently echoed the optimistic views of Ripple CEO Brad Garlinghouse on the future of the company’s native token, XRP
In a social media post, JackTheRippler pointed to Garlinghouse’s previous interview with Bloomberg, where the CEO discussed the potential of XRP. Garlinghouse acknowledged that XRP’s value could rise if certain challenges are addressed.
— JackTheRippler ©️ (@RippleXrpie) May 19, 2024
The analyst’s post is based on Garlinghouse’s previous interview with Bloomberg, where he elucidated the future of Ripple’s native token, XRP. While the host enquired about the potential of XRP to become the next Bitcoin, Garlinghouse shared his optimistic views. He asserted that XRP’s value could be raised if the prevailing problems are sorted. He cited,
“If we work with the system to solve this problem and the problem is in trillions of dollars, then there is a great opportunity to create value in XRP.”
Some experts have pointed out XRP’s past performance as evidence of its potential. The token reportedly surged by about 25,000% in 2017. However, Garlinghouse’s suggestion that XRP could surpass Bitcoin in the future remains a topic of debate within the cryptocurrency industry
Garlinghouse also addressed the ongoing concern about regulatory uncertainty in the crypto space. He emphasized Ripple’s commitment to regulatory compliance, highlighting their collaboration with regulators and financial institutions.
Despite a recent downturn with its price currently at $0.5131, XRP has seen a notable increase of over 4% in the past week. Additionally, a substantial 27% surge in trading volume suggests a rise in demand for the token.
Overall, the outlook for XRP remains uncertain. While some analysts see it as a potential contender, others believe it is unlikely to replace Bitcoin.
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