Monica Long, the President of Ripple, has officially confirmed the upcoming launch of an XRP exchange-traded fund (ETF), highlighting XRP’s strong market position and regulatory clarity. Long foresees a significant impact on the market from both the ETF and Ripple’s new stablecoin project.
In a recent update by CNF and a subsequent podcast, Long expressed her support for the XRP ETF, noting that XRP consistently ranks among the top ten assets by market cap and boasts substantial daily trading volumes. With growing institutional interest in cryptocurrencies, the XRP ETF is seen as a strategic move for Ripple.
To further expand its market presence, Ripple is set to launch a new stablecoin by the end of 2024. Long also announced a partnership with Clear Junction to enhance cross-border payment capabilities in Europe, enabling secure and instant payouts in GBP and EUR. These initiatives are expected to attract institutional attention and strengthen Ripple’s position in the crypto landscape.
The anticipation surrounding the XRP ETF has sparked discussions about its potential to drive XRP’s price to new highs. Past instances have shown that the introduction of cryptocurrency ETFs can lead to price surges due to increased accessibility and institutional investment.
Blockchain researcher Collin Brown recently tweeted his support for the impending launch of the XRP ETF, suggesting that it could have 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 they will result in a substantial increase in XRP’s price. Currently trading at $0.5235 with a 1.30% increase over the past week, the market is already responding positively to Ripple’s strategic direction and future prospects.