- Ripple President Monica Long expressed optimism that a spot XRP exchange-traded fund (ETF) will be approved soon, following a favorable regulatory environment and multiple filings by asset managers.
- Additionally, Ripple’s RLUSD stablecoin is gaining traction with expanding listings and increasing adoption in the crypto market, signaling a promising future for XRP.
Ripple President Monica Long recently shared her optimistic outlook on the approval of a spot XRP exchange-traded fund (ETF) in the United States. Speaking in an interview with Bloomberg Crypto, Long hinted that the approval process is nearing completion, with the XRP ETF potentially launching sooner than expected. Here’s a deeper look at Ripple’s plans and how this development could shape the future of crypto investments.
Ripple’s RLUSD Stablecoin: Expanding Reach and Adoption
Ripple’s new stablecoin, RLUSD, is gaining significant traction in the cryptocurrency space. Long discussed Ripple’s efforts to expand the RLUSD’s distribution, which is already available on platforms such as Bitso, MoonPay, and CoinMina. Ripple is actively pursuing additional listings on major exchanges, including Bullish and MercadoBitcoin, with potential future announcements about availability on U.S.-based platforms like Coinbase.
Long emphasized the importance of stablecoins, calling them “the way to on-ramp and off-ramp” in the crypto world. She anticipates growing demand for stablecoins, especially as the crypto landscape continues to mature. Ripple’s RLUSD, which launched on both Ethereum and the XRP Ledger in December, has already reached a market cap of $53 million. This success is further supported by Ripple’s integration of Chainlink services, enhancing RLUSD’s utility in decentralized finance (DeFi) protocols.
XRP ETF on the Horizon
The most exciting news from Long’s interview was her prediction about the imminent approval of a spot XRP ETF. With multiple asset managers like Canary Capital, WisdomTree, and 21Shares having filed for XRP ETFs, Long believes that XRP will likely follow Bitcoin and Ethereum in receiving approval for a spot ETF in the near future.
Long highlighted the positive regulatory shifts, especially with the change in U.S. administration, which could accelerate the approval process for XRP ETFs. The SEC has yet to make a final decision on the numerous filings submitted by various firms, including Bitwise, which filed for an XRP ETF in October. However, Long remains confident that the favorable regulatory climate will hasten approval.
A Promising Future for XRP
Ripple’s business is on the rise, with a doubling of its payments business last year, signaling strong institutional demand. Ripple also enjoyed a strong close to 2024, securing more local deals in the last six weeks than in the previous six months combined. This success, coupled with the expected approval of the XRP ETF, could propel XRP to even greater heights.
As of now, XRP is trading at $2.31, having surged more than 350% since the election of the Trump administration. This upward trend could gain further momentum with the anticipated launch of the XRP ETF, bringing even more attention and institutional interest to the cryptocurrency.
Conclusion
The imminent approval of a spot XRP ETF marks an exciting milestone for Ripple and the broader cryptocurrency industry. With Ripple’s growing stablecoin adoption and an increasingly favorable regulatory environment, XRP’s future looks brighter than ever.
