Ripple CEO comments on crypto market rally
Ripple CEO comments on crypto market rally
Brad Garlinghouse, CEO of Ripple Labs, analyzed the significant growth of the cryptocurrency market, which has grown by 20-30% this year alone.
Garlinghouse emphasized the confident success of the crypto industry, which was able to increase the volume from 1.3 to 1.4 trillion dollars.
The remarks of the well-known representative of the crypto industry came at a time when the cryptocurrency market is facing strong pressure from regulators. Meanwhile, the market continues to point to the great potential of digital assets, U.today reported.
On Nov. 8-9, Bitcoin, the first cryptocurrency, jumped to nearly $38,000, its highest level since May 2022, before the TerraUSD stablecoin crash caused widespread losses in the crypto industry.
Analysts at Bloomberg reported that they see a 90% chance of a spot Bitcoin ETF being approved before January 10, 2024. Investors are also optimistic, as evidenced by the increasing number of BTC withdrawals from exchanges.
The long-awaited rally in cryptocurrencies underscores the signs of the end of the crypto winter and the overcoming of the most difficult period.
The second-most-capitalized cryptocurrency is also on the rise. Ethereum crossed the all-important $2,000 barrier after the BlackRock ETF registration.
The overall sentiment in the crypto market remains bullish, with XRP, Solana, and BNB strengthening their positions and moving towards growth.
As for Ripple's XRP cryptocurrency, Garlinghouse recently stated that XRP is in dire straits and Ripple is not ready to start the IPO process.
"If I had a magical window to see what drives crypto prices, I probably would quit this job and just go do that," Garlinghouse joked.
Also Read: Bulls are actively staking that makes ETH holding above $2,000.
