Monica Long, 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 predicts a significant impact on the market from both the ETF and Ripple’s new stablecoin project.
In a recent update by CNF and during a subsequent podcast, Long expressed her enthusiasm for the forthcoming XRP ETF. She emphasized XRP’s consistent top-ten ranking by market cap and substantial daily trading volumes, making it an attractive asset for institutional investors in the evolving cryptocurrency landscape.
Furthermore, Long revealed in an interview with CNBC that Ripple is set to release a new stablecoin by the end of 2024. The company has also partnered with Clear Junction to enhance its cross-border payment capabilities in Europe, enabling secure and instant payouts in GBP and EUR. These initiatives are expected to draw significant institutional interest and contribute to Ripple’s market expansion.
The impending launch of the XRP ETF has sparked speculation about its potential to boost XRP’s price to new heights. Historical data suggests that cryptocurrency ETFs can lead to price increases by increasing accessibility and attracting institutional investment. Blockchain researcher Collin Brown also expressed support for the XRP ETF launch, anticipating a significant impact on the market.
As Ripple prepares to launch these ambitious projects, the financial and cryptocurrency communities are eagerly anticipating whether they will drive a substantial increase in XRP’s price. With XRP currently trading at $0.5235 and a recent 1.30% increase over the past week, the market has already begun to respond positively to Ripple’s strategic direction and future prospects.
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