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 position in the market. Long foresees a significant impact on the market from both the ETF and Ripple’s new stablecoin project.
Long’s endorsement of the XRP ETF was made public through a recent update on CNF and a subsequent podcast, where she discussed Ripple’s progress and emphasized XRP’s consistent presence among the top ten assets by market capitalization, along with its substantial daily trading volumes. Given the growing interest from institutional investors in the cryptocurrency space, the XRP ETF is seen as a strategic move for Ripple.
In a recent interview with CNBC, Long also revealed Ripple’s plans to launch a new stablecoin by the end of 2024, further solidifying the company’s market presence. Additionally, Ripple has partnered with Clear Junction to enhance its cross-border payment capabilities in Europe, enabling secure and instant transactions in GBP and EUR. These initiatives are expected to attract significant institutional interest and strengthen Ripple’s position in the evolving crypto market.
The announcement of the XRP ETF has generated excitement about its potential to drive XRP’s price to new highs. Past experiences have shown that the introduction of cryptocurrency ETFs can result in price surges due to increased accessibility and institutional investments. Collin Brown, a blockchain researcher, recently expressed support for the impending launch of the XRP ETF, predicting a notable impact on the market.
As Ripple prepares to launch these ambitious projects, the financial and crypto communities are closely monitoring to see if these initiatives will lead to a substantial increase in XRP’s price. With XRP currently trading at $0.5235 and showing a 1.30% increase over the past week, the market is already responding positively to Ripple’s strategic decisions and future prospects.