Is XRP ETF Launch Imminent? Top Expert Shares ‘Good Sign’ With Ripple Community

by

As a seasoned researcher with over two decades of experience in the financial markets, I must say that the prospects for XRP ETF launch seem promising, given the current market dynamics and regulatory environment. Trump’s election win has undeniably bolstered optimism towards crypto in the US, and his pro-crypto stance could potentially pave the way for a favorable settlement in the Ripple vs SEC lawsuit.

Experts are hopeful that an XRP Exchange Traded Fund (ETF) could soon be launched, given the growing excitement surrounding positive cryptocurrency regulations in the U.S. The election of Donald Trump has added to this optimism, as it’s believed that his administration may foster a supportive climate for crypto within the country. Moreover, the recent green light given to Ripple’s stablecoin, RLUSD, has further boosted market confidence.

Is XRP ETF Launch Imminent?

It seems that investors maintained their positive outlook regarding the U.S.’s regulatory climate following Donald Trump’s victory in the elections. Significantly, Trump has been openly supportive of the cryptocurrency sector throughout his campaign and promised to position the U.S. as a leading force in the crypto world.

This development has further ignited optimism among Ripple supporters regarding a possible resolution in the Ripple versus SEC lawsuit. Moreover, crypto market fans are also looking forward to the upcoming launch of several leading altcoins’ ETFs, as positive cryptocurrency regulations are expected.

In light of the current situation, well-known cryptocurrency expert Ben Armstrong (also known as The BitBoy) has expressed a positive outlook for Ripple’s native digital currency. Recently, he emphasized in a post that the Grayscale XRP Trust has yielded over 300% returns since May, which indicates robust market faith in the crypto.

Furthermore, he pointed out that a solid performance, or “Good indication,” suggests an upcoming U.S. launch of an XRP Exchange-Traded Fund (ETF). This development follows Ripple’s native cryptocurrency experiencing a notable surge in recent times, alongside a favorable trend observed across the global crypto market. Notably, Grayscale has also recently applied for a Solana ETF, leading to speculation about a potential XRP ETF submission from them as well.

Ripple RLUSD Approval Sparks Further Optimism

The NYDFS’s recent approval of Ripple’s stablecoin RLUSD has sparked increased optimism among investors about the market. Additionally, investor confidence in the market has grown following the announcement of US SEC Chair Gary Gensler’s resignation. Interestingly, Ripple’s native cryptocurrency was one of the coins that saw significant gains as a result of this news, with many market observers expecting the regulators to either drop or settle the ongoing legal case with Gensler’s departure.

Over the past month, a string of favorable events has caused the price of XRP to surge by an impressive 250%. Yet, this digital currency experienced turbulent trading during the last week. In comparison, its weekly trading has been relatively calm, with a decrease of almost 5% in the most recent 24-hour period. Nonetheless, BitBoy’s recent suggestion of a possible XRP ETF launch might change this trend and stimulate enthusiasm among investors.

Furthermore, the recent applications submitted by well-known financial institutions for a Ripple ETF have added to market optimism about a possible upcoming launch. For example, WisdomTree has recently submitted an S-1 Form for an XRP ETF with the US Securities and Exchange Commission. At the same time, Bitwise, 21Shares, and Canary Capital have also filed similar applications, which has increased traders’ enthusiasm.

It seems that Ben Armstrong continues to express optimism about XRP’s future path. Notably, in a recent post on X, he forecasted an increase in the XRP price up to $4.5 either this year or by January 2025, sparking interest among investors.

Read More

2024-12-13 12:02