Potential for XRP ETF on the Horizon Amid Positive Regulatory Changes
In a recent Bloomberg interview, Monica Long, President of Ripple, expressed optimism regarding the future of cryptocurrency exchange-traded funds (ETFs), specifically predicting that an XRP ETF could be the next to receive approval in the U.S. “We think, especially with the administration change, the approvals of those filings will accelerate,” she stated, highlighting the shift in regulatory attitudes that may favor the cryptocurrency market.
Long anticipates that XRP could follow Bitcoin and Ether in the rollout of crypto spot ETFs this year. She emphasized the likelihood of seeing more approved crypto-based investment products driven by the current political landscape.
In addition to potential ETF developments, Long also shared insights about Ripple’s new stablecoin, RLUSD. This stablecoin is set to make its debut on several exchanges imminently and is expected to play a significant role in Ripple’s payment and money transfer operations. Introduced to the public on both the Ethereum and XRP Ledger platforms in December, RLUSD boasts a market capitalization of $72 million and has recently integrated Chainlink’s services to enhance its utility within decentralized finance (DeFi) protocols.
The push for XRP ETFs has gained traction as various asset managers have submitted filings to the U.S. Securities and Exchange Commission, including Bitwise, Canary Capital, WisdomTree, and 21Shares. However, a conclusive decision regarding these offerings is pending.
Speculation around the impact of a pro-crypto Trump administration has also fueled optimism among traders. Players in the market believe that such an administration could benefit tokens associated with U.S.-based companies, such as Ripple Labs, which is linked to XRP, and Uniswap (UNI). This sentiment is evidenced by Ripple’s recent business activity, reporting a surge in new U.S. deals in late 2024 compared to the preceding six months.
Since the recent election, XRP has soared over 300%, significantly outperforming other major cryptocurrencies, driven by a favorable narrative for U.S. crypto businesses.