Ripple has introduced a new stablecoin called RLUSD with the goal of improving XRP’s usability and presence in the market. The potential launch of an XRP ETF could generate significant interest from investors.
Monica Long, the president of Ripple, expressed confidence in XRP’s position in the top 10 for an extended period. She believes that the likelihood of an XRP ETF is very high, and due to its versatile applications, many investors may choose to invest in it. This announcement came shortly after Monica Long revealed the innovative stablecoin designed to complement XRP, as reported by CNF.
In a recent tweet by Collin Brown, he highlighted Monica Long’s statement about XRP’s long-standing presence in the top 10 and the potential for an XRP ETF to attract investors due to its various use cases.
In an interview, Long explained that Ripple’s decision to launch a stablecoin was motivated by the desire to offer a cost-effective and seamless transaction experience for its payment clients and banking partners. The US dollar stablecoin aims to enhance efficiency in major payment corridors with abundant liquidity, such as USD to EUR transactions.
Long also emphasized Ripple’s strategic shift towards becoming a leading enterprise blockchain infrastructure provider. With legal clarity obtained from U.S. courts confirming XRP’s status as a commodity, Ripple can now advance its operations within the United States.
According to CoinMarketCap data, Ripple (XRP) is currently trading at $0.4767, with a 1.65% increase in the past day and a 2.73% decrease in the past week. Long anticipates a significant market impact from both the potential ETF launch and Ripple’s new stablecoin project, as reported by CNF.
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