Linda P. Jones, a former Vice President at Morgan Stanley, draws parallels between the current trajectory of XRP and the early stocks of tech giants Microsoft and Apple, emphasizing the potential for significant growth in the digital asset market.
The global digital assets market, including cryptocurrencies like XRP, is projected to account for up to 10% of all assets by 2030, potentially reaching a valuation of over $14.5 trillion, driven by factors such as the growing adoption of cryptocurrencies, stablecoins, and central bank digital currencies, as well as regulatory certainty and institutional investor interest. Pro-XRP analysts suggest that XRP could become the next big thing in the financial market, with the potential for significant returns, especially considering Ripple's efforts to expand its use cases and accommodate tokenized assets.
South Korean investors in their 20s show a preference for investing in XRP over Bitcoin and Ethereum, with 20.7% of their investment portfolios allocated to XRP.
Data suggests asset managers are following BlackRock into the cryptocurrency market, as European crypto ETPs experienced significant inflows in June, marking their best performance since March 2022.
Global investment giant BlackRock has positioned itself to benefit from the growing importance of digital assets, including Bitcoin, through its substantial stake in MicroStrategy, indicating a new phase of institutional adoption in the cryptocurrency market.
XRP20, the yield-bearing 'XRP on Ethereum' coin, is benefiting from rumors of a potential listing on Robinhood, following its successful trading debut on Uniswap, with 23 billion tokens staked and locked liquidity of 71% for one month, making it an ideal buy setup for potential gains.
BlackRock, the world's largest asset manager, has filed a proposal to establish a Bitcoin exchange-traded fund (ETF), which could increase mainstream acceptance of Bitcoin investing and open up new investment opportunities if approved by the U.S. Securities and Exchange Commission (SEC).
XRP is experiencing a significant increase in on-chain volume and development activity, while Bitcoin's recent dip is attributed to fear, doubt, and uncertainty surrounding the potential rejection of spot market BTC exchange-traded fund applications, according to Santiment.
BlackRock, a major asset manager, is accused of deliberately driving down the price of Bitcoin in order to establish a better buying position for their Spot Bitcoin Exchange-Traded Fund (ETF) if it is approved, according to analyst Crypto Rover. This highlights the influence of big players in the market and reminds retail investors to be more analytical.
Despite the uncertain regulatory environment and the current state of the crypto markets, asset managers remain interested in digital assets and expect the industry to grow in the next five years, with many estimating a compound annual growth rate of at least 11%.
An increasing number of investment firms in the U.S. and Europe are appointing senior executives to lead digital asset investment strategies, with 24% of asset management firms already adopting a digital assets strategy and an additional 13% planning to do so in the next two years, according to a report by Amberdata.
Ripple (XRP) price consolidation may be followed by an imminent rally fueled by rumors of Blackrock's integration of XRP in its crypto expansion strategy, as indicated by on-chain data and trading sentiment.
Ripple CEO Brad Garlinghouse believes that XRP could become the next Bitcoin if it successfully addresses a multi-trillion-dollar problem and leverages its competitive edge in the regulated traditional finance sector.