- Ripple President Monica Long confirms the imminent launch of an XRP ETF, emphasizing XRP’s clear regulatory status and strong market position.
- Long projects significant market impact from both the ETF and Ripple’s new stablecoin project.
Ripple President Monica Long has strongly endorsed the forthcoming launch of an XRP exchange-traded fund (ETF). In a recent update by CNF and during a subsequent podcast, Long discussed the company’s advancements, highlighting the strong market position of XRP, which consistently ranks among the top ten assets by market cap and maintains substantial daily trading volumes.
These factors, combined with increasing institutional interest in cryptocurrencies, make an XRP ETF a strategic development for Ripple.
Continued Market Expansion by Ripple
Further advancing Ripple’s market presence, it is discussed in Today’s CNF Youtube Video below that Long revealed in the same in an interview with CNBC that the company is moving forward with a new stablecoin set to launch by the end of 2024.
Additionally, Ripple has partnered with Clear Junction to bolster its cross-border payment capabilities in Europe, facilitating secure and instant payouts in GBP and EUR. These initiatives are expected to draw significant institutional attention and enhance Ripple’s role in the evolving crypto landscape.
The anticipation around the XRP ETF has sparked speculation about its potential to propel XRP’s price to new heights. Historical precedents suggest that the introduction of cryptocurrency ETFs can lead to price increases, thanks to enhanced accessibility and heightened institutional investment.
Blockchain researcher Collin Brown recently tweeted support for the imminent launch of the XRP ETF, suggesting that it could significantly impact the market. See Collin Brown’s tweet below.
Ripple's President, @MonicaLongXRP, backs the inevitable #XRP ETF as regulatory clarity sets the stage for market evolution! She expects it to happen 'very soon'.
WAGMI!
— Collin Brown (@CollinBrownXRP) June 6, 2024
Will It Elevate XRP to New Heights?
As Ripple gears up to launch these ambitious projects, the financial and cryptocurrency communities are keenly observing to see if these initiatives will lead to a significant uptick in XRP’s price. As depicted in the price chart below, currently trading at $0.5235 with a recent increase of 1.30% over the past week, the market is already reacting positively to Ripple’s strategic directions and future prospects.
