Sal Gilbertie, CEO of Teucrium, expressed strong support for XRP, according to a recent interview.
This move is highlighting its potential role in the evolving financial infrastructure. Previously, it is reported that Teucrium launched the first U.S. 2x XRP ETF, according to a CNFreport.
XRP’s Practical Utility and Institutional Appeal
Gilbertie emphasized further that XRP’s practical applications, particularly in facilitating cross-border transactions. He noted that XRP’s established infrastructure and the competence of its development team make it a legitimate asset in the digital currency world. On a recent tweet, it is also revealed that:
- Teucrium CEO Sal Gilbertie described the new 2x $XRP ETF as the company’s “most successful launch to date.” Speaking with ETF analyst Nate Geraci, he mentioned the product saw impressive demand, despite a quiet launch.
- Teucrium’s recognition of a more favorable regulatory environment under the current SEC leadership has influenced its strategic decisions, including the launch of new financial products.
Regulatory Clarity and XRP’s Role in Financial Systems
The Teucrium CEO pointed out that Ripple, the company behind XRP, has shown a willingness to operate within regulatory frameworks. This approach aligns with the preferences of institutional investors who prioritize compliance and transparency. Gilbertie believes that XRP’s technology is already well-developed and ready for integration into the global financial system, offering near-instantaneous asset transfers.
Current Market Performance of XRP
As suggested in a 2024 CNF post that is XRP the future alternative to the Dollar, together with Sal Gilbertie’s endorsement of XRP underscores its significance in the future of financial infrastructure. With its established technology, regulatory compliance, and practical utility, XRP is positioned to play a pivotal role in facilitating efficient and secure global transactions.
As at the time of writing, XRP is trading at approximately $2.15, reflecting a slight increase of 0.00467% from the previous day. Although the cryptocurrency has experienced fluctuations, with an intraday high of $2.17 and a low of $2.11, XRP remains the fourth-largest cryptocurrency by market capitalization, indicating sustained investor interest.
As of now, XRP is trading at $2.15 USD, reflecting a 0.85% increase over the past day and 13.89% over the past week. See XRP price chart below.