- Bitcoin’s decline below $100K spurs interest in XRP.
- XRP secures major institutions’ interest like Bank of America.
- Ripple plans RLUSD stablecoin expansion and XRP spot ETF approval.
Ripple’s XRP is gaining momentum as Bitcoin pulls back from its $100K milestone. With over 1,700 financial institutions adopting Ripple’s technology, XRP is on the verge of significant price action.
In an interview with FOX Business, David Stryzewski, CEO of Sound Planning Group, emphasized Ripple’s transformative potential in global finance. Despite facing legal hurdles with the SEC lawsuit, RippleNet continues to expand its cross-border payment network, leveraging XRP for instant liquidity.
Over 1,700 Institutional Contracts for XRP
Over 1,700 financial institutions, including Bank of America, have signed contracts with Ripple to integrate XRP for seamless payments. Court documents also reveal the filing of 83 blockchain patents for cross-border solutions.
Notably, Ripple was once the second-largest cryptocurrency before the SEC sued Ripple Labs for conducting unregistered securities sales. While the lawsuit is still ongoing, it has drawn worldwide attention to Ripple’s broader vision, including spot ETF tied to XRP.
Ripple’s Push for an XRP Spot ETF
Ripple’s President, Monica Long, recently hinted at an XRP spot ETF launch in 2025. This move would mirror Bitcoin and Ethereum’s ETF milestones, potentially boosting institutional confidence and XRP adoption. Long expressed optimism about this development, which could further solidify XRP’s role in the global financial ecosystem.
Ripple is also expanding its ecosystem with RLUSD, a newly launched stablecoin. Long disclosed plans to list RLUSD on major cryptocurrency exchanges, signaling broader adoption and increased utility for Ripple’s blockchain.
Read also: Ripple’s RLUSD Stablecoin Nears Wider Exchange Rollout
Although the SEC lawsuit remains unresolved, many experts see Ripple’s ongoing progress as a signal of its long-term potential. Industry analysts believe XRP’s technological advantages and RippleNet’s adoption rate position it as a key player in the digital economy.
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