- XRP experienced a significant surge of over 20%, reaching a new yearly peak.
- Industry experts, including Martin Hiesboeck, foresee a potential XRP ETF, contributing to the asset’s price momentum.
- Despite anticipation for a U.S.-listed XRP ETF, other countries already offer XRP investment options.
XRP’s recent surge in value has reignited optimism among investors, with industry experts like Martin Hiesboeck from Uphold Exchange foreseeing even greater impacts on XRP’s price due to the potential introduction of an ETF.
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Witnessing a remarkable ascent on Monday, XRP demonstrated a substantial 20.5% increase, surpassing multiple resistance thresholds to reach a new high for the year, exceeding $0.7440. This significant price hike comes at a crucial juncture, amid concerns among the XRP community regarding its lackluster performance during the current bullish market phase.
Prominent figures within the crypto space, such as Martin Hiesboeck, Uphold’s Head of Research, have attributed XRP’s impressive resurgence to recent positive developments and regulatory clarity obtained last year. Hiesboeck hinted at the imminent arrival of an investment product for XRP.
Indeed, since the favorable regulatory ruling in July 2023, the XRP ecosystem has witnessed considerable growth and development. Notable advancements include the potential for passive income for XRP holders through an upcoming AMM implementation, along with SBI’s initiation of cross-border payment services across several Asian nations utilizing XRP.
While speculation surrounding an XRP ETF continues to mount, with significant players like BlackRock maintaining a cautious stance, industry insiders remain optimistic. Ripple CEO Brad Garlinghouse and Steve McClurg of Valkyrie have expressed confidence in the inevitability of an XRP ETF.
Despite uncertainties surrounding the launch of a U.S.-listed XRP ETF, other countries have already introduced alternative investment vehicles for XRP, including an XRP ETP recently listed on the Swedish Stock Exchange.
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