Crypto Market Cap To $145 Trillion: Wall Street Analyst Says XRP Is The Coin To Hold

The global crypto market already boasts an impressive market cap of over $1 trillion. However, a report from Northern Trust in collaboration with HSBC, says that this figure could still rise exponentially, and a Wall Street analyst has suggested that XRP is the coin to buy to take advantage of this growth.

Digital Assets To Account For 10% Of Global Assets

According to the report, digital assets are expected to account for up to 10% of all assets by 2030. That means the market could be valued at over $14.5 trillion since these financial firms also project that the global asset market could rise to as high as $145.4 trillion by 2025. 

The basis for this projection is premised on the growing rise of cryptocurrencies, stablecoins, central bank digital currencies (CBDCs), and other technological innovations that promote several uses for these tokens. 

Furthermore, factors like the approval of Spot Bitcoin ETFs, regulatory certainty, and mass crypto adoption among institutional investors could bring more liquidity into the market. As such, the digital assets market is well-placed for a tremendous rise, suggesting that the best days for the crypto market are yet to come. 

Token price succumbs to market volatility | Source: XRPUSD on Tradingview.com

Ripple & XRP To Dominate The Market?

Many members of the XRP community have continued to push the notion that XRP could become the face of the crypto market especially following the increased interest in XRP among institutional investors. 

Reacting to this report, pro-XRP Wall Street financial analyst Linda Jones suggested that XRP could become the next big thing in the financial market, as she likened it to Microsoft and Apple stock.

In her opinion, XRP holders could potentially earn huge returns when Northern Trust’s projections become a reality. This position may not be farfetched, considering that XRP is undoubtedly enjoying increased adoption following Judge Analisa Torres’ ruling in favor of Ripple. 

One major highlight was the increase in XRP’s market cap following the ruling, and that suggests that the token could enjoy more success if Ripple comes out victorious against the SEC when a final judgment is given.

Furthermore, digital assets, especially cryptocurrencies, are seen as alternatives to the current financial infrastructure, and as they continue to enjoy adoption, blockchain technology could be used as the primary means of facilitating transactions. 

Ripple is also not resting on its laurels, as it wants to expand its use cases to the tokenized assets industry. The company is reportedly building tools and services to accommodate tokenized assets and facilitate trading of these assets on the XRP ledger. Ripple’s Ledger is already touted as the future of the global payment system, with its blockchain designed to process transactions faster than existing solutions. 

As such, Ripple is already positioning itself to enjoy a huge chunk of these tokenized markets since liquidity will invariably flow into the XRP ecosystem due to users being able to trade these asset classes on the ledger. 

Interestingly, Northern Trust projects that the global NFT market will grow to $13.6 billion by 2027. It is expected that as more illiquid assets like real estate get tokenized, more liquid will flow into the market and make these asset classes more tradeable. 

Featured image from Unsplash, chart from Tradingview.com