- Two renowned firms – Grayscale and Artemis, have labeled XRP as a store of value with superior features such as hard-capped supply.
- Ripple CEO Brad Garlinghouse has also disclosed that XRP is finally free from regulatory challenges that have negatively affected its growth over the years.
Renowned asset manager Grayscale Investment and data infrastructure platform Artemis have added XRP to their list of cryptos serving the purpose of exchange, store of value, and peer-to-peer transactions. The list also includes Bitcoin (BTC) and Litecoin (LTC); however, XRP was said to have distinct features, which include hard-capped supply, adoption, and resistance to censorship.
.@Grayscale’s Crypto Sectors: The Currencies sector highlights assets like #Bitcoin, $XRP, and $LTC, designed for exchange, store of value, and peer-to-peer transactions.
Read more about Crypto Sectors: https://t.co/SUtzCwLqjo pic.twitter.com/TUhHF5aGKF— Grayscale (@Grayscale) January 6, 2025
Analyzing Artemis’ report, we found that Bitcoin Cash (BCH) and Monero (XMR) serve a similar purpose. Meanwhile, XRP was ranked higher due to its huge market capitalization, which currently stands at $141 billion. Comparatively, Bitcoin Cash has a market cap of $9.3 billion, while Monero has a valuation of $3.7 billion.
Amidst this backdrop, XRP is expected to make a historic move as the upcoming Chairman of the US Securities and Exchange (SEC), Paul Atkins, is predicted to lead the withdrawal of the case between Ripple and the Commission. With that possibility, Ripple CEO Brad Garlinghouse has expressed optimism about the future growth of the price, likening it to a basketball held underwater. According to him, the asset has received freedom from the regulatory pressure that has suppressed its growth.
Earlier, CNF highlighted in a report that Garlinghouse anticipates a crypto reset after years of enforcement actions against the industry.
Brad Garlinghouse Speaks on XRP; Analysts Spot Bullish Formation
Speaking on the previous performance of the XRP price, Garlinghouse highlighted that the asset was denied a level playing field, which negatively affected its value in the market. Throwing more light on this, the Ripple boss pointed out that XRP was once the second-largest crypto by market cap. He also labeled the known headwinds as “factors that were exogenous—perhaps unnatural or unethical in some ways.” However, he believes that 2025 could witness an increasing momentum and Real-World Utility, as earlier reported by CNF.
At press time, XRP was trading at $2.4 after surging by 17% in the last seven days and 1.56% in the last 24 hours. With a 24-hour volume of $4 billion, XRP has been tipped to hit $5 soon.
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On January 1, 2025, analyst Dark Defender disclosed that XRP had completed its correction phase in a weekly time frame.
We conducted a detailed analysis on Patreon and addressed a structure on 9-Dec-24, stating that XRP will follow a corrective pattern. XRP followed the same path we discussed. It might be risky to say that, but I expect XRP to break this triangle within a week! Fibonacci target levels are the same, and the first sits at $5.85 precisely.
Fascinatingly, analyst Ali Martinez also predicted that XRP could be in line for a massive surge as a TD Sequential buy signal has been spotted on its 4-hour chart. According to our analysts, this indicator is usually used to identify reversals in price by measuring the closes of the previous candles. On January 4, Martinez shared a chart to show the consolidation of the asset in a bullish pennant formation since hitting a multiple-year high of $2.9.
Per his observation, failure to secure the $2.7 resistance level could cause XRP to decline to $2.05. Joining the XRP conversation, analyst Altcoin Daily has also tipped XRP to hit $5. As mentioned in our previous report, this represents a 105% surge from the current level.
