Market Alert: XRP’s Potential Breakout
Bitwise Chief Investment Officer Matt Hougan has dropped a bombshell prediction about XRP’s market potential, suggesting that the cryptocurrency may be significantly undervalued due to years of regulatory suppression. In a revealing interview with the Paul Barron Network, Hougan outlined how the upcoming resolution of XRP’s SEC lawsuit could trigger a major market repricing event.
The Regulatory Shadow Lifting
Since 2020, XRP has operated under the cloud of an SEC lawsuit, which has restricted its growth and led to widespread delistings from major U.S. exchanges. With the final ruling expected by April 16, 2025, the market stands at a crucial inflection point. “From my 30,000-foot view, specific to XRP, I think there’s a significant chunk of the crypto market that has sort of written it off or forgotten about it. And I think that part of the market is wrong,” Hougan emphasized.
Global Adoption Signals
A particularly compelling aspect of XRP’s potential lies in its international adoption, especially in Japan. SBI Holdings has taken a leading role in integrating XRP into its digital banking ecosystem, with XRP holdings now surpassing Ethereum among Japanese investors. This institutional confidence mirrors the strategic accumulation pattern seen with Bitcoin, suggesting possible parallel growth trajectories.
ETF Possibilities and Market Impact
Adding to the potential catalysts, Bitwise’s confidence in XRP is evident in their pursuit of a spot XRP ETF. While specific details remain under wraps, Hougan’s statement that “We don’t file for ETPs for fun” signals strong institutional interest in the asset.
Market Implications
- Current Price: $2.12
- Key Catalysts: SEC lawsuit resolution, potential ETF approval, international adoption
- Market Opportunity: Possible significant repricing event post-regulatory clarity
Looking Ahead
The combination of regulatory clarity, institutional interest, and global adoption could create a perfect storm for XRP’s market value. While Hougan maintains a measured outlook, stating “There’s no guarantee XRP will be enormously successful, but there’s equally no guarantee that it won’t be,” the potential for significant market movement appears substantial.
Source: NewsBTC