#xrpetf

$XRP is essentially created to facilitate cross-border transactions quickly, cheaply, and securely. Currently, Ripple is operating in more than 70 countries with a product called On-Demand Liquidity (ODL).

Ripple is also continuing to expand its network, especially in Africa, Southeast Asia, and Latin America. Even banks in the Middle East and Europe are starting to test RippleNet to complete their transactions.

Ripple Labs, as the developer of $XRP, continues to develop technology. One of them is the launch of RLUSD, a dollar-based stablecoin that is commonly used on the XRP Ledger (XRPL) and Ethereum (ETH).

In addition, a feature called Hooks is being tested. This feature allows for core functions like smart contracts on the XRPL, meaning decentralized financial (DeFi) applications can be built on this Ripple network.

Recently, several investment companies such as CoinShares, Bitwise, Wisdom Tree, Canary Capital, and Grayscale have submitted ETF proposals for $XRP on NASDAQ. If this ETF is approved, the demand for $XRP could increase drastically, as was the case with Bitcoin after its ETF was approved.