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

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What to know:

  • An XRP ETF could be next in line after bitcoin and ether products.
  • Since November, the speculative optimism among traders has been that a crypto-friendly Trump administration could benefit tokens and products linked to U.S.-based companies.

It’s possible that an Exchange-Traded Fund (ETF) based on XRP may come to fruition sooner rather than later, according to Ripple President Monica Long, who made this statement during an interview with Bloomberg on Tuesday. This is due to the encouraging U.S. cryptocurrency regulations that are beneficial for local businesses.

As a crypto enthusiast, I strongly believe we’re on the brink of a significant milestone. This year, I anticipate the emergence of multiple crypto spot ETFs within the U.S., following the path set by Bitcoin and Ethereum. It’s my view that XRP could potentially be next in line for inclusion.

As a crypto investor, I’m optimistic that with the recent administrative shift, the processing speed of those pending applications will noticeably quicken.

Long stated that Ripple’s newly developed RLUSD stablecoin will soon be accessible on multiple trading platforms “very shortly,” and anticipates it playing a significant role in the company’s payment and monetary transactions in the near future.

As a researcher delving into the world of cryptocurrencies, I recently noticed that Real-Life Usage Coin (RLUSD) was made accessible to a wider audience on both Ethereum and XRP Ledger platforms last December. Currently, its market capitalization stands at approximately $72 million, as observed on Wednesday. On Tuesday, RLUSD integrated some of Chainlink’s services with the aim of enhancing its utility within decentralized finance (DeFi) protocols. This integration, as reported, is set to bolster its presence and potential in the growing DeFi landscape.

In October, Bitwise, the investment firm, lodged an S-1 form with the U.S. Securities and Exchange Commission for a stock market fund linked to XRP. Later on, Canary Capital, WisdomTree, and 21Shares each filed applications to launch XRP ETFs; however, a verdict regarding these filings is still pending.

Over the past few months, there has been growing anticipation among traders that a crypto-friendly presidency under Trump might positively impact tokens associated with U.S.-based companies like Ripple Labs (XRP) and Uniswap (UNI). This is because these firms are heavily involved in enhancing the value for token holders.

In my role as a researcher, I have observed an intriguing trend: Trump’s election promises seem to be fostering a favorable business climate that is positively impacting Ripple’s local operations. In the last six weeks of 2024 alone, Ripple reported signing more deals within the United States than they did in the preceding six months. This suggests a significant shift towards a business-friendly environment post-election.

1) The value of XRP has surged over 300% since Donald Trump’s election victory, exceeding the expansion of every significant digital currency, largely driven by the U.S.-centric storyline.

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2025-01-08 12:16