- Ripple President supports XRP ETF, citing regulatory clarity and market demand.
- Ripple CEO predicts inevitable launch of XRP ETF, aligning with market trends.
- Ripple ventures into the stablecoin sector, aiming for launch by the end of 2024.
The president of Ripple, Monica Long, has expressed her strong support for the launch of an exchange-traded fund (ETF) for XRP. In an interview with CNBC, Long stressed that the regulatory clarity in the US concerning XRP and Bitcoin makes an XRP ETF an acceptable choice. She emphasized that XRP has a substantial daily traded volume and ranks among the top 10 assets by market capitalization.
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Brad Garlinghouse, the CEO of Ripple, recently stated that the introduction of a spot XRP ETF is inevitable. Garlinghouse clarified that approving multiple altcoin exchange-traded funds (ETFs) would meet the demand of investors for diversified exposure. He was optimistic about the future of Ethereum ETFs and speculated that XRP might pursue a similar path.
In addition to pushing for an XRP ETF, Ripple is making significant advancements in the stablecoin space. According to Monica Long, Ripple is working on a stablecoin project that is expected to be released by the end of 2024. She promised that the XRP token would still be needed as a bridge asset after the stablecoin launches.
The ease of payment and convenient access to US dollars have been the main reasons for the growing demand for stablecoins. She predicted that in the next five years, the market cap of stablecoins could surpass $3 trillion.
Ripple is making progress in the European market with the launch of a new partnership with Clear Junction. The purpose of this collaboration is to enable quick and safe payouts for Ripple’s clients in GBP and EUR. It is anticipated that the integration with Clear Junction will strengthen Ripple’s cross-border payment services and enable more effective financial transactions throughout Europe.
Strategic actions taken by Ripple, such as the launch of a stablecoin and the promotion of an XRP ETF, demonstrate the company’s determination to increase its presence in the cryptocurrency market. These projects solidify its standing as the front-runner in the digital asset market.
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