Monica Long, President of Ripple, has officially confirmed the upcoming launch of an XRP exchange-traded fund (ETF), underscoring XRP’s solid regulatory standing and strong position in the market.
Long foresees a significant impact on the market from both the ETF and Ripple’s new stablecoin project. XRP, consistently ranking among the top assets by market cap and boasting substantial daily trading volumes, is well-positioned for success.
In a recent update by CNF and a subsequent podcast, Long emphasized Ripple’s progress and the strategic significance of an XRP ETF given the growing institutional interest in cryptocurrencies.
To further expand Ripple’s market presence, Long also announced plans for a new stablecoin to be launched by the end of 2024. The company has also collaborated with Clear Junction to enhance cross-border payment capabilities in Europe, providing secure and instant payouts in GBP and EUR.
The anticipation surrounding the XRP ETF has generated speculation about its potential to drive XRP’s price to new heights. Historical data suggests that cryptocurrency ETF introductions can lead to price surges by increasing accessibility and institutional investment.
Blockchain researcher Collin Brown expressed support for the imminent XRP ETF launch, highlighting its transformative impact on the market.
As Ripple prepares to roll out these ambitious projects, both the financial and cryptocurrency communities are closely monitoring to gauge the impact on 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 responding positively to Ripple’s strategic initiatives and future outlook.
Stay updated on Ripple (XRP) news and explore guides on buying Ripple, setting up an XRP wallet, checking 24-hour XRP prices, and more to stay informed about this dynamic cryptocurrency.