Monica Long, the President of Ripple, has officially confirmed the upcoming launch of an XRP ETF, highlighting the cryptocurrency’s strong regulatory standing and prominent market position.
Long foresees a significant impact on the market from both the ETF and Ripple’s upcoming stablecoin project. XRP, a consistent top-ten asset by market cap with substantial daily trading volumes, is well-positioned to benefit from the increasing institutional interest in cryptocurrencies.
In a recent update by CNF and a subsequent podcast, Long expressed her enthusiasm for the imminent launch of the XRP ETF. She also revealed plans for a new stablecoin to be launched by the end of 2024, as discussed in a Today’s CNF YouTube video. Additionally, Ripple has partnered with Clear Junction to enhance its cross-border payment capabilities in Europe, enabling secure and instant payouts in GBP and EUR.
The anticipation surrounding the XRP ETF has sparked speculation about its potential to drive XRP’s price to new highs. Historical data suggests that the introduction of cryptocurrency ETFs can lead to price increases by increasing accessibility and attracting institutional investment. Blockchain researcher Collin Brown has voiced support for the XRP ETF launch, predicting a significant impact on the market.
As Ripple prepares to introduce these ambitious projects, the financial and cryptocurrency communities are closely watching to see if they will result in a notable price increase for XRP. With the current price of $0.5235 and a recent increase of 1.30% over the past week, the market is already responding positively to Ripple’s strategic direction and future prospects.