- Ripple CEO Brad Garlinghouse asserts that the company’s XRP holdings are now valued over $100 billion, significantly exceeding its previous $11 billion valuation.
- Peter Brandt, a veteran trader predicts that XRP’s market value could reach a potential $500 Billion driven by recent price surges and increased demand.
Ripple’s CEO Brad Garlinghouse has been an outspoken advocate within the cryptocurrency sector. In a recent report, Brad Garlinghouse forcefully rejected the 11 billion market cap, condemning it as severely outdated.
These assertions stem from the successful rally XRP has recorded, especially the ” Trump Rally,” and increased demand for Ripple’s blockchain solutions.
In a recent interview with a leading news outlet, Brad Garlinghouse confidently asserted that the company’s significant holdings are currently valued at over $100 billion.
The total value of the XRP we hold is now greater than $100 billion, said Garlinghouse.
Ripple CEO Brad Garlinghouse announced that the company now holds over $100 billion worth of XRP tokens. This significantly impacts Ripple’s valuation as a blockchain infrastructure company. Garlinghouse noted that Ripple’s private market trading has been at a discount to its net asset value, unlike cryptocurrency-related companies like MicroStrategy.
He then drew a comparison between Ripple’s valuation and that of MicroStrategy, led by Michael Saylor, highlighting the latter’s premium valuation. “While MicroStrategy trades at a significant premium to its assets, Ripple has been valued at a discount in private market transactions,” Garlinghouse explained.
Ripple, previously valued at $11 billion in early 2024 during a $300 million share buyback, no longer reflects its current financial standing according to CEO Brad Garlinghouse.
XRP Price Growth
Ripple’s native token, XRP has been a bullish spree over the past weeks. According to data from FalconX, XRP has risen five times its value before the election periods in late 2024. Additionally, Ripple’s token has had increased liquidity and trading volume, sometimes even outperforming Bitcoin.
This upsurge is part of a larger movement within the cryptocurrency market, driven by factors like the likely approval of a crypto ETF and the growing debate surrounding a U.S. blockchain reserve.
At the time of writing, XRP is swapping hands with $2.43 after a 0.88% surge in the past 24 hours. Focusing on the weekly chart, the digital asset has recorded a surge of 20.06%. Nevertheless, XRP is short by 4.35% in the past month.
It is worth mentioning that XRP’s market cap currently stands at $139.84B.
$500B Market Cap in Sight for XRP
Veteran trader Peter Brandt, with over 40 years of experience in commodities and finance, recently commented on XRP’s price action on the X platform. He observed that XRP is currently displaying a “half-mast flag” pattern on technical charts.
This pattern, characterized by a sharp price rise followed by a brief period of sideways trading (resembling a flag on a pole), often indicates the continuation of the existing trend.
Brandt suggested that a successful resolution of this flag pattern could lead to a substantial increase in XRP’s market capitalization. He emphasized the urgency of the situation, stating,
This flag in XRP needs to resolve soon, or it will likely transition into another, yet-to-be-determined pattern
