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XRP ETF Could Soon Become a Reality, Says Ripple President as RLUSD Gains Momentum
Key Takeaways:
XRP ETF on the Horizon: Ripple President Monica Long believes an XRP exchange-traded fund (ETF) could follow Bitcoin and Ethereum ETFs, especially with the potential shift in U.S. administration favoring crypto regulation.
Regulatory Optimism: Long expects approvals for crypto ETFs to accelerate, citing a more crypto-friendly environment under a possible Trump administration.
RLUSD Expansion: Ripple’s RLUSD stablecoin is set to be listed on more exchanges soon and is positioned to play a major role in the firm’s payments and financial services.
Market Developments: RLUSD, launched in December on Ethereum and the XRP Ledger, currently holds a $72 million market capitalization. It recently integrated Chainlink services to enhance DeFi utility.
ETF Filings: Several asset managers, including Bitwise, Canary Capital, WisdomTree, and 21Shares, have filed for XRP ETFs, but no decision has been made yet.
XRP’s Performance: Since Trump’s election victory, XRP prices have surged over 300%, surpassing other major cryptocurrencies, driven by optimism over regulatory shifts benefiting U.S.-based crypto firms like Ripple.
