Is Ripple the Next Amazon or Facebook? Analyst Thinks So
  • Ripple has been compared to tech giants like Amazon and Facebook for its potential as a billion-dollar business.
  • Ripple’s stablecoin plans and recent legal victory could impact the company’s future success.

Cryptocurrency payments business Ripple could reach a valuation on par with Amazon and Facebook, according to a prominent cryptocurrency analyst. The optimistic prediction is justified, despite XRP’s recent underperformance brought on by market volatility and Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).

Analyst Predicts Billion-Dollar Future for Ripple

The host of the AllinCrypto YouTube channel recently Posts A video discussing the potential for Ripple to become a billion-dollar company. The analyst boldly predicted that Americans would consider Ripple a “unicorn” in the same vein as tech and e-commerce giants like Amazon, Apple, Facebook, and Microsoft.

In the video, the analyst highlighted Ripple’s growth trajectory and contrasted it with that of top technology companies that have made significant contributions to the U.S. economy. He said that members of the U.S. Treasury Department recognize the value of stablecoins and based their projections on Ripple’s objectives.

The analyst also highlighted a recent Wall Street Journal article highlighting cryptocurrencies’ ability to stave off a U.S. debt crisis. He revealed that Treasury Department officials have discussed how stablecoins could support America’s continued global economic dominance, floated the idea that such crypto-assets could help pay down the U.S.’s massive debt load.

Market capitalization and implementation challenges

According to data from CoinMarketCap, Ripple’s market capitalization was over $29 billion as of June 4. But it still eclipses that amount, with tech giants such as Facebook and Amazon having market capitalizations approaching $1 trillion. For Ripple to become a “unicorn,” it needs a similar market value and widespread adoption.

XRP’s current market performance remains a cause for concern despite its promising future. XRP has been pegged at the $0.5 price level for several years, with significant declines even during periods of market optimism.

At the time of writing, XRP is worth approximately $0.4887According to data from CoinMarketCap: 0.19% It has fallen in the past 24 hours 0.26% last week.

Further complicating things, Ripple won a major court case: A federal class action lawsuit alleging that XRP was offered as an unregistered security was dismissed by Judge Phyllis J. Hamilton on June 20.

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