Monica Long, President of Ripple, has officially confirmed the upcoming launch of an XRP exchange-traded fund (ETF), highlighting the cryptocurrency’s strong regulatory status and solid market position. Long foresees a significant impact on the market from both the ETF and Ripple’s upcoming stablecoin project.
Ripple’s market expansion continues with the announcement of a new stablecoin set to be released by the end of 2024, as revealed by Long in an interview with CNBC. Furthermore, Ripple has joined forces with Clear Junction to enhance its cross-border payment capabilities in Europe, enabling secure and instant payments in GBP and EUR. These collaborations are expected to attract substantial institutional interest and solidify Ripple’s presence in the ever-changing crypto landscape.
The anticipation surrounding the XRP ETF has generated discussions about its potential to boost XRP’s price to new levels. Past experiences indicate that the introduction of cryptocurrency ETFs can lead to price surges due to increased accessibility and heightened institutional investment. Notably, blockchain researcher Collin Brown has expressed support for the upcoming XRP ETF launch, suggesting a significant impact on the market.
As Ripple prepares to launch these ambitious projects, the financial and cryptocurrency communities are eagerly watching to see if these initiatives will drive a notable increase in XRP’s price. With XRP currently trading at $0.5235, reflecting a recent 1.30% increase over the past week, the market is already responding positively to Ripple’s strategic direction and future prospects.