- Former Ripple director predicts a genuine XRP ETF in 2024 or 2025, alongside a Ripple IPO outside the US in 2025.
- Ripple CEO Brad Garlinghouse acknowledges the possibility of an XRP ETF, without specifying a timeline or potential issuer.
- Ripple temporarily postpones its IPO plans, prioritizing compliance and regulatory engagement.
The XRP community is abuzz with anticipation as former Ripple director Sean McBride recently shared his optimistic outlook, forecasting the launch of a genuine XRP exchange-traded fund (ETF) in either 2024 or 2025, in addition to hinting at a Ripple initial public offering (IPO) outside the United States in 2025.
This coincides with the rising enthusiasm surrounding cryptocurrency ETFs, especially following the recent green light given to spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC). Ripple CEO Brad Garlinghouse contributes to the discussion by recognizing the possibility of an XRP ETF, although he abstains from delineating the exact timing or potential issuer.
The excitement could bolster investor confidence, driving up demand and pushing XRP’s price higher, possibly drawing speculative traders. Given these forecasts, monitoring XRP’s current market performance becomes crucial.
Despite recent fluctuations, including a decrease in value over the last 24 hours, XRP continues to maintain a significant market capitalization. While indicators suggest a bullish trend with the upward slope of the 50-day moving average, caution is advised due to the downward trajectory of the 200-day moving average since mid-February 2024, signaling a potentially weak market trend.
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Meanwhile, Ripple’s stance amidst legal battles with the SEC remains proactive. Ripple’s commitment to compliance and regulatory engagement is evident, as the company prioritizes these aspects over immediate IPO plans. Garlinghouse expresses satisfaction with recent legal victories and remains optimistic about potential resolutions, either through the SEC acknowledging its defeats or legislative intervention by Congress.
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