San Francisco, CA – Ripple CEO Brad Garlinghouse expresses frustration over the lack of recognition for XRP in the cryptocurrency market. Despite having regulatory clarity in the U.S., XRP’s value remaining below $0.5 has led to negative sentiments, with some labeling it a “dead coin.”
Garlinghouse’s frustration stems from XRP’s standing as one of the worst-performing crypto assets during the current bull market. In a recent interview at the XRP Ledger Apex conference, he emphasized XRP’s unique regulatory advantage as one of the few cryptocurrencies definitively deemed not to be a security in the U.S.
Following a court ruling in July 2023, XRP saw a price surge of over 100% within 24 hours, reaching a peak of $0.93. Despite being relisted on major U.S. exchanges and reinstated in investment products, XRP’s value has dropped by approximately 50% since then.
Garlinghouse expressed surprise at the market’s failure to reward XRP for its regulatory clarity, contrasting the coin’s position with Ethereum, which still faces regulatory uncertainties. Pro-XRP commentator BarriC believes that XRP’s underperformance is temporary and predicts a potential rise to $1000 in the future.
BarriC suggests that when XRP regains the $1 price point it lost three years ago, the community reaction may be subdued until it nears $5. He argues that at $100, XRP’s utility in payments and tokenization will attract more investment interest, with significant anticipation building as the coin approaches $1000.
Overall, the journey of XRP from its current value to $1000 presents a vision of growth and potential that some in the cryptocurrency community believe will materialize in the future.