Monica Long, President of Ripple, has officially confirmed the upcoming launch of an XRP ETF, highlighting the clear regulatory status and strong market position of XRP.
Long predicts a significant market impact from both the ETF and Ripple’s new stablecoin project.
In a recent update by CNF and during a subsequent podcast, Long expressed her strong support for the upcoming XRP exchange-traded fund (ETF). She emphasized XRP’s consistent ranking among the top ten assets by market cap and its substantial daily trading volumes, making it a strategic development for Ripple amidst increasing institutional interest in cryptocurrencies.
Ripple is expanding its market presence further, as revealed in a recent video by Today’s CNF on YouTube. Long also disclosed in an interview with CNBC that the company is gearing up to launch a new stablecoin by the end of 2024. Additionally, Ripple has partnered with Clear Junction to enhance its cross-border payment capabilities in Europe, enabling secure and instant payouts in GBP and EUR, which is expected to attract significant institutional attention and strengthen Ripple’s position in the crypto landscape.
The anticipation surrounding the XRP ETF has led to speculation about its potential to push XRP’s price to new heights. Historical data suggests that the introduction of cryptocurrency ETFs can result in price increases due to increased accessibility and institutional investment.
Blockchain researcher Collin Brown recently showed support for the upcoming XRP ETF launch, indicating its potential to impact the market significantly.
As Ripple prepares to launch these ambitious projects, the financial and cryptocurrency communities are eagerly watching to see if these initiatives will lead to a substantial increase in XRP’s price. Currently trading at $0.5235 with a recent increase of 1.30% over the past week, the market is already responding positively to Ripple’s strategic direction and future prospects.