An XRP exchange-traded fund (ETF) may soon be approved, according to Ripple President Monica Long in a recent Bloomberg interview.
She expressed optimism about the future of crypto regulations in the U.S., suggesting that XRP could be next in line for an ETF after Bitcoin and Ether. Long believes that with the change in administration, the approval process for crypto filings will speed up.
Ripple is also launching its new RLUSD stablecoin, which will soon be available on more exchanges. This stablecoin, introduced to the public in December, has a market capitalization of $72 million. To enhance its utility in decentralized finance (DeFi), Ripple has integrated some services from Chainlink.
In October, Bitwise submitted an application to the U.S. Securities and Exchange Commission for an XRP ETF. Other firms like Canary Capital, WisdomTree, and 21Shares have also filed for XRP ETFs, but no decisions have been made yet.
Since November, there has been growing speculation that a crypto-friendly Trump administration could positively impact tokens associated with U.S.-based companies like Ripple Labs and Uniswap.
This optimism has already shown results, as Ripple reported signing more deals in the last six weeks of 2024 than in the previous six months, indicating a favorable business climate after the election.
The price of XRP has surged over 300% since Trump’s victory, outperforming other major cryptocurrencies. This growth is largely attributed to the positive narrative surrounding U.S. regulations and the potential for increased value for token holders. Overall, the outlook for XRP and Ripple appears promising as the market anticipates regulatory changes and new product launches.
