Ripple’s CEO, Brad Garlinghouse, expressed his optimism about the imminent launch of more cryptocurrency Exchange-Traded Funds (ETFs) in the United States during an interview at the Paris Blockchain Week. He acknowledged that it is difficult to predict the exact timeline for the launch of these ETFs due to potential pushback from the US Securities and Exchange Commission (SEC). However, Garlinghouse highlighted that XRP, unlike other cryptocurrencies, has regulatory clarity and is not considered a security. This regulatory clarity paves the way for the launch of XRP ETFs. Garlinghouse also criticized the current regulatory approach in the US and urged for a more supportive and innovative legislative environment.
In addition to discussing ETFs, Garlinghouse made a bullish prediction that the combined market capitalization of the crypto market would exceed $5 trillion this year. He based his optimism on factors such as the introduction of the first US spot Bitcoin ETFs and the upcoming halving event. Garlinghouse believes that these macro trends, along with increasing institutional demand and decreasing supply, will drive the growth of the crypto market.
Garlinghouse also mentioned the possibility of positive regulations being introduced in the United States, which could further propel the crypto industry to new highs. Many crypto enthusiasts are hopeful that the next administration will be more accommodating towards the industry.
Despite facing regulatory challenges, XRP has been defying hurdles and maintaining a positive sentiment in the market. According to Santiment, XRP’s sentiment was predominantly bullish, with 51.72% positive and 30.5% negative sentiment. The coin has also remained above the 50-day and 200-day EMAs, indicating a positive price signal. Currently, XRP is trading at $0.6077 with a slight decline of 0.27% in the past day. However, its trading volume has seen a significant increase of 24.59%, reaching $2.4 billion, suggesting growing interest and accumulation by investors and traders. The Fear and Greed Index also reflects extreme greed with a figure of 78.