Monica Long, the President of Ripple, has officially confirmed the upcoming launch of an XRP ETF, highlighting XRP’s strong market position and regulatory clarity. Long anticipates a significant impact on the market from both the ETF and Ripple’s new stablecoin project.
Ripple’s President, Monica Long, has expressed strong support for the upcoming XRP exchange-traded fund (ETF). In a recent update from CNF and a subsequent podcast, Long discussed the company’s progress, emphasizing XRP’s solid market position as one of the top ten assets by market cap with substantial daily trading volumes.
Given the growing institutional interest in cryptocurrencies, an XRP ETF is seen as a strategic move for Ripple to further expand its market presence. In addition to the ETF, Long revealed in an interview with CNBC that Ripple is set to launch a new stablecoin by the end of 2024 and has partnered with Clear Junction to enhance cross-border payment capabilities in Europe.
The anticipation surrounding the XRP ETF has sparked speculation about its potential to push XRP’s price to new highs. Past experiences suggest that the introduction of cryptocurrency ETFs can lead to price increases by increasing accessibility and attracting institutional investment.
Blockchain researcher Collin Brown recently voiced support for the impending launch of the XRP ETF, predicting a significant impact on the market. As Ripple prepares to roll out these ambitious projects, the financial and cryptocurrency communities are eagerly watching to see if these initiatives will drive a notable increase in XRP’s price, which is currently trading at $0.5235 with a recent 1.30% increase over the past week.
The market is already reacting positively to Ripple’s strategic direction and future prospects, with many wondering if these initiatives will elevate XRP to new heights.