Crypto investors, rejoice! Big news is brewing for XRP. Ripple CEO Brad Garlinghouse has dropped a hint that could signal a major win for the cryptocurrency. Following the SEC’s green light for Ethereum spot ETFs, speculation is swirling that XRP might be next in line for a similar approval.
Could this be the turning point XRP holders have been waiting for? Dive deeper to find out the latest developments and what it means for the future of XRP.
In a celebratory post on X, Garlinghouse congratulated the Ethereum team for their ETF approval and reflected on the significant regulatory progress this week, including the bipartisan support for the FIT21 crypto bill.
Excitement rippled through the Ripple community as enthusiasts suggested that an XRP spot ETF should be next. Fueling the buzz, Garlinghouse’s ‘like’ of these suggestions added to the speculation.
Notably, Zach Rector, a prominent XRP community member, connected these dots with Garlinghouse’s earlier bold statement that 2024 would be a crucial year for XRP. Referencing a February interview where Garlinghouse deemed an XRP spot ETF “inescapable,” Rector hinted at potential timelines aligning.
Despite Garlinghouse’s optimism, the path to an XRP ETF remains complex. The looming SEC lawsuit against Ripple, alleging the sale of unregistered securities, poses a significant hurdle. The lawsuit’s outcome could profoundly affect the feasibility and timeline of an XRP ETF.
Offering insight into the broader ETF landscape, Bloomberg ETF analyst James Seyffart pointed to Solana as a potential frontrunner for the next spot ETF, given its market position. However, Seyffart cautioned that Solana might not secure an ETF until 2026, depending on regulatory dynamics and the establishment of a CFTC-regulated futures market.
Speculation has been rife within the Ripple XRP community since the approval of Bitcoin ETFs. The community’s anticipation is split between the possibility of an XRP ETF and Ripple’s potential initial coin offering (ICO).
The recent approval of eight Ethereum spot ETFs, featuring heavyweights like BlackRock, Grayscale, and Fidelity, marks a significant moment for the cryptocurrency sphere. This regulatory milestone signals mainstream finance’s increasing acceptance of digital assets, potentially paving the way for other contenders like XRP.
Buoyed by recent developments, the XRP community is buzzing with anticipation, viewing them as promising signs for XRP’s future. In a bold move, community members have petitioned Grayscale, urging the creation of an XRP ETF.
While the timing of an XRP ETF’s arrival remains uncertain, the recent flurry of market activity and regulatory strides offers hope for XRP proponents.
Also Check Out: Top Analyst Predicts Ethereum (ETH) Price to Jump 92% in 16 Days; Here’s Why
The XRP community is buzzing! Do you think an XRP ETF is a realistic possibility in the near future?
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