In the end the only thing that matters about crypto is what the US stance is on it and not Russia's or any other country. If US feel they can supervise it via US crypto exchanges then it will flourish. If they feel its a threat to their control of the global financial system then they will crush it. Simply blacklisting it for their banks means every bank in world (bar a couple) will blacklist it due to federated nature of US sanctions and blacklisting followed by all banks globally.
Issue I see is that greater adoption of this parallel financial system (crypto market) will put it in danger.
It will fail at some point, but how long will that take? Will there be a major war before we reach that point?