Monica Long, the President of Ripple, has officially announced 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 a subsequent podcast, Long expressed her full support for the XRP ETF, noting that XRP consistently ranks among the top ten assets by market cap and boasts substantial daily trading volumes. With growing institutional interest in cryptocurrencies, the introduction of an XRP ETF is seen as a strategic move for Ripple.
Ripple continues to expand its market presence, with Long revealing in an interview with CNBC that the company is set to launch a new stablecoin by the end of 2024. The partnership with Clear Junction in Europe will enhance Ripple’s cross-border payment capabilities, 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 evolving 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 cryptocurrency ETFs can lead to price increases by increasing accessibility and institutional investment. Blockchain researcher Collin Brown has also expressed support for the imminent launch of the XRP ETF, emphasizing its potential impact on the market.
As Ripple prepares to launch these ambitious projects, the financial and cryptocurrency communities are closely watching to see if they will result in a notable increase in XRP’s price. With XRP currently trading at $0.5235, showing a recent increase of 1.30% over the past week, the market is already responding positively to Ripple’s strategic direction and future prospects.