XRP ETF Could Soon Be a Reality, Ripple President Says as RLUSD Gains Traction

XRP ETF Could Soon Be a Reality, Ripple President Says as RLUSD Gains Traction

Ripple President Monica Long Predicts XRP ETF Approval Amid Crypto-Friendly Policies

Ripple President Monica Long expressed optimism about the approval of an XRP exchange-traded fund (ETF), pointing to favorable regulatory changes under the Trump administration. In a Bloomberg interview on Tuesday, Long stated, "I think we will see one very soon. I think that we will see more crypto spot ETFs this year coming out of the US, and I think XRP is likely to be next in line after bitcoin and ether."

Key Developments:

1. XRP ETF Anticipation:
   Ripple is hopeful that an XRP ETF could soon follow the approval of Bitcoin and Ethereum ETFs. Monica Long suggested that the Trump administration’s crypto-friendly stance might accelerate regulatory approvals, paving the way for such products.

2. Ripple’s RLUSD Stablecoin Expansion:
   Ripple’s RLUSD stablecoin, launched in December on Ethereum and the XRP Ledger, is set to expand its presence across more exchanges. The stablecoin currently boasts a $72 million market capitalization. To enhance its functionality in decentralized finance (DeFi) protocols, RLUSD integrated Chainlink's services earlier this week.

3. XRP ETF Filings Awaiting Decisions:
   Bitwise filed an S-1 application with the U.S. Securities and Exchange Commission (SEC) for an XRP ETF in October, with similar filings from Canary Capital, WisdomTree, and 21Shares. However, no decisions have been made yet.

4. Boost for U.S.-Based Crypto Firms:
   Since November, speculative optimism has been building around the idea that Trump’s administration could benefit U.S.-based crypto companies. Ripple and Uniswap are seen as key beneficiaries due to their efforts to enhance token value and their strong local presence.

5. Ripple’s Recent Growth:
   Ripple’s business has seen a surge post-election, signing more U.S. deals in the last six weeks of 2024 than in the prior six months. XRP prices have risen over 300% since Trump’s election win, far outperforming other major cryptocurrencies.

Outlook:

Monica Long believes the changing regulatory landscape will continue to benefit Ripple and other U.S.-based crypto firms. Ripple's advancements, such as the RLUSD stablecoin and potential XRP ETF, are positioning the company as a key player in the evolving crypto ecosystem.

This development underscores the broader influence of political shifts on the crypto market, as regulatory clarity and support from the administration foster innovation and growth.