Monica Long, the President of Ripple, has officially confirmed the upcoming launch of an XRP ETF, highlighting the cryptocurrency’s solid regulatory status and strong position in the market.
Long predicts a significant impact on the market from both the ETF launch and Ripple’s upcoming stablecoin project. She expressed her enthusiasm for the XRP ETF during a recent update by CNF and in a subsequent podcast, emphasizing XRP’s consistent ranking among the top ten assets by market cap and its substantial daily trading volumes. With growing institutional interest in cryptocurrencies, Long sees the XRP ETF as a strategic move for Ripple.
In addition to the ETF, Long revealed in an interview with CNBC that Ripple is set to launch a new stablecoin by the end of 2024. The company has also partnered with Clear Junction to strengthen its cross-border payment capabilities in Europe, enabling secure and instant payouts in GBP and EUR. These initiatives are expected to attract significant institutional attention and solidify Ripple’s position in the ever-evolving crypto landscape.
The anticipation surrounding the XRP ETF has sparked discussions about its potential to push XRP’s price to new highs. Historical data suggests that the introduction of cryptocurrency ETFs can lead to price increases due to increased accessibility and institutional investment. Blockchain researcher Collin Brown has voiced support for the upcoming XRP ETF, highlighting its potential impact on the market.
As Ripple prepares to launch these ambitious projects, the financial and cryptocurrency communities are eagerly watching to see if they will drive a significant increase in XRP’s price. With XRP currently trading at $0.5235 and showing a recent increase of 1.30% over the past week, the market is already responding positively to Ripple’s strategic initiatives and future prospects.