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 latest stablecoin project. She has expressed her full support for the forthcoming XRP exchange-traded fund in recent updates by CNF and during a podcast, emphasizing XRP’s consistent presence in the top ten assets by market cap and its substantial daily trading volumes.
With growing interest from institutional investors in the cryptocurrency space, an XRP ETF is seen as a strategic move for Ripple to further expand its market reach. In addition to this, Long has also announced the development of a new stablecoin set to be launched by the end of 2024, as revealed in an interview with CNBC.
Ripple’s partnership with Clear Junction to enhance cross-border payment capabilities in Europe, enabling secure and instant payouts in GBP and EUR, is expected to draw increased institutional attention and solidify Ripple’s position in the ever-evolving cryptocurrency landscape.
The excitement surrounding the upcoming XRP ETF has led to speculation about its potential to drive XRP’s price to new heights. Historical data suggests that the introduction of cryptocurrency ETFs can lead to price surges due to improved accessibility and heightened institutional interest.
Blockchain researcher Collin Brown has shown support for the imminent launch of the XRP ETF, emphasizing its potential impact on the market. As Ripple prepares to launch these ambitious projects, observers from the financial and cryptocurrency communities are eagerly anticipating whether these initiatives will lead to a significant increase in XRP’s price.
Currently trading at $0.5235 with a recent increase of 1.30% over the past week, the market is already responding positively to Ripple’s strategic direction and future prospects. Investors and enthusiasts are closely monitoring Ripple’s developments, eagerly awaiting the potential rise of XRP to new heights.