Monica Long, the President of Ripple, has officially confirmed the upcoming launch of an XRP Exchange-Traded Fund (ETF), highlighting XRP’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.
During a recent update by CNF and in a subsequent podcast, Long expressed her enthusiasm for the imminent launch of the XRP ETF. She emphasized XRP’s consistent presence among the top assets by market cap and its substantial daily trading volumes, making it a strategic move for Ripple in light of increasing institutional interest in cryptocurrencies.
In a recent interview with CNBC, Long also revealed Ripple’s plans to introduce a new stablecoin by the end of 2024, further expanding the company’s market reach. Additionally, the partnership with Clear Junction to enhance cross-border payment capabilities in Europe is expected to attract institutional attention and solidify Ripple’s position in the evolving crypto landscape.
Speculation surrounding the XRP ETF launch has sparked discussions 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 increased accessibility and institutional investment.
Blockchain researcher Collin Brown recently expressed support for the upcoming XRP ETF launch, believing it could have a significant impact on the market. As Ripple prepares to launch these ambitious projects, the financial and cryptocurrency communities are closely monitoring to see if these initiatives will result in a substantial increase in XRP’s price. Current trading at $0.5235 with a recent 1.30% increase over the past week, the market is already responding positively to Ripple’s strategic direction and future prospects.