Wednesday, May 29, 2024
HomeCryptocurrencyGood for XRP? Based On Ripple CEO Forecast, Analyst Sets Timeline For...

Good for XRP? Based On Ripple CEO Forecast, Analyst Sets Timeline For $200T TMC

EGRAG CRYPTO (@egragcrypto), a prominent analyst in the cryptocurrency space, has made a bold prediction regarding the future value of the entire crypto industry. In an X post, EGRAG CRYPTO argued that the total market capitalization of cryptocurrency could reach a staggering $200 trillion within the next decade.

This prediction comes amidst a period of relative calm in the crypto market, with the current market cap hovering around $2.37 trillion. EGRAG CRYPTO highlighted comments from Ripple CEO Brad Garlinghouse that the crypto market could hit $5 trillion, which coincides with Fib 1.414.

Read Also: Bitboy States Four Catalysts to Send XRP to the Moon in this Bull Cycle

However, EGRAG CRYPTO has bigger targets for the crypto market, as he believes the market can reach the Fib 1.618 of $7.31 trillion. He expects this growth to continue towards $200 trillion within the next decade.

In the same thread of tweets, the analyst was asked about the share of XRP in the gargantuan total market cap. In response, he said, “10% or 20% XRP Market CAP will be super fun.”

The Path to $200 Trillion

EGRAG CRYPTO attributes his bullish outlook to several key factors:

Regulatory Clarity: EGRAG CRYPTO believes clearer regulations from governments and financial institutions will be crucial for broader crypto adoption. This clarity would instill confidence in investors and pave the way for mainstream financial products incorporating cryptocurrencies.

Growing Utility and Use Cases: EGRAG CRYPTO emphasizes the importance of cryptocurrencies developing real-world utility beyond speculation.  Integration with existing financial systems and the creation of new applications that leverage blockchain technology are seen as key drivers of growth.

Real-World Asset Tokenization: Tokenization, the process of converting a physical or intangible asset into a digital representation on a blockchain, is another factor EGRAG CRYPTO highlights. Tokenization opens up new avenues for asset ownership and management, potentially attracting significant investment into the crypto space.

Ripple is at the forefront of the push for real-world asset tokenization, and has high hopes for it. The company’s Chief Technology Officer (CTO) David Schwartz, has set a timeline for tokenized assets to reach XRPL.

Read Also: Ripple CEO: XRP Success Can Only Be Sustained By Real-World Utility

<

Interestingly, XRP is also the only altcoin with regulatory clarity in the U.S., and its utility is expanding as more companies partner with Ripple. The post references Raoul Pal, co-founder and CEO of Real Vision, who emphasizes the potential for exponential growth within the cryptocurrency space.

The future of the cryptocurrency industry seems bright, and a $200 trillion market cap might only be a few years away. EGRAG CRYPTO’s analysis highlights the potential for significant growth within the crypto space, driven by factors, such as regulatory clarity, increased utility, and real-world asset tokenization.


Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
RELATED ARTICLES

Latest News & Articles