XRP News Today: XRP's Market Cap at 6% of Bitcoin's, Potential 1,000% Gains Predicted

XRP, with a market capitalization of $129 billion, is significantly smaller than Bitcoin's $2.1 trillion, representing only about 6% of Bitcoin's market cap. In contrast, Ethereum held around 14% of Bitcoin’s market cap in June. Both Ethereum and Ripple investors are optimistic about the disruptive potential of their respective platforms, with Ethereum focusing on smart contract services in finance, insurance, and legal sectors, and Ripple targeting international payments services.

Ripple's advanced business in global payments for large institutions, combined with the growing use of its XRP Ledger in decentralized finance, positions XRP for potential significant gains. Historically, when Bitcoin's price moves, XRP's price tends to follow with higher percentage gains and losses. Expert Bitcoin analysts predict another substantial rally for Bitcoin in the latter half of this year, with long-term forecasts suggesting Bitcoin could reach $200,000 by 2025 and $500,000 by 2028. If XRP follows a similar trend, it could see gains of over 500% in the event of a $150,000 Bitcoin and over 1,000% in the event of a $200,000 Bitcoin.

The ongoing lawsuit between the SEC and Ripple Labs has taken a bullish turn for Ripple. A July 2023 ruling by Judge Analisa Torres partially sided with Ripple, stating that XRP tokens did not meet the definition of unregistered securities in their programmatic sales on exchanges. Additionally, the SEC's recent friendliness towards crypto has removed a significant barrier to XRP's price growth. The court rejected a joint motion by the SEC and Ripple to reduce the fine and remove the injunction, indicating a shift in the regulatory environment.

Ripple's XRP Ledger continues to expand its use cases, with new fiat-backed stablecoins now live on the platform, including USDC, XSGD, EURØP, RLUSD, and USDB. XRP plays a crucial role in supporting these stablecoins by enabling efficient liquidity and fast settlement. Ripple's recent partnership with the multi-chain platform Wormhole allows XRPL network peers to use XRP on over 200 blockchain apps across more than 35 different cryptocurrency platforms, further enhancing its utility and potential for growth.

Ripple CEO Brad Garlinghouse has stated that XRP could capture 14% of SWIFT's global payments volume within five years. This prediction is based on RippleNet's ability to clear transactions in about five seconds compared to SWIFT's 1-5 business days, and at a significantly lower cost. If Ripple can capture this market share, it could drive substantial liquidity to XRP, potentially pushing its price to new heights.