XRP ETF Incoming? Ripple President Monica Long Speaks Out

Published by

Vignesh S G

June 6, 2024

Could we get an XRP ETF soon?

Ripple’s President, Monica Long, is a vocal advocate, highlighting its potential in today’s market. Her optimism is shared by CEO Brad Garlinghouse, who recently predicted a spot XRP ETF by 2025. Fueled by discussions at the massive Consensus 2024 conference, could this be the game-changer XRP needs?

Dive deeper to understand why Ripple is so bullish on an XRP ETF and what it might mean for the cryptocurrency’s future.

Garlinghouse’s Big Forecast

At Consensus 2024, Garlinghouse boldly predicted the arrival of XRP ETFs and similar financial products for cryptocurrencies like Solana and Cardano. He emphasized the inevitability of these advancements as the crypto market continues to mature and gain wider acceptance.

Regulatory Shifts

Recent developments in the ETF realm include the approval of Ethereum spot ETFs by the US Securities and Exchange Commission (SEC). Cathie Wood, CEO of ARK Invest, highlighted at Consensus 2024 how political dynamics have made crypto an election issue, influencing regulatory decisions.

This shift became evident when SEC Chair Gray Gensler, previously skeptical of crypto ETFs, adopted a more relaxed tone regarding the pending ETH ETF launch. Gensler’s change followed a ruling in favor of Grayscale against the SEC, prompting the regulator to reassess its stance on crypto ETFs.

XRP’s Market Position

XRP stands as the eighth-largest cryptocurrency by market cap, valued at $29.1 billion, with a 24-hour trading volume of approximately $917.5 million. These numbers highlight the substantial interest and trading activity surrounding XRP, indicating the potential impact of an ETF on its market dynamics.

With Ripple’s leadership endorsing an XRP ETF and regulatory winds shifting, the future looks promising for cryptocurrency ETFs.

Also Read: This Altcoin Is All Set to Explode by 2300%! Have You Stacked It Yet?

Vignesh S G

Vignesh is a young journalist with a decade of experience. A proud alumnus of IIJNM, Bengaluru, he spent six years as a Sub-Editor for a leading business magazine, published from Kerala. His interest in futuristic technologies took him to a US-based software company specialising in Web3, Blockchain and AI. This stint inspired him to view the future of journalism through the lens of next generation technologies. Now, he covers the crypto scene for Coinpedia, uncovering a vibrant new world where technology and journalism converge.