Ripple CEO Predicts XRP & These Cryptos Are Next To Get ETF Approval

by

As a seasoned crypto investor with a keen interest in regulatory developments, I find Brad Garlinghouse’s bold predictions regarding crypto ETFs intriguing. His confidence that XRP, Solana, and Cardano are next in line for U.S. regulatory approval is an optimistic sign for the crypto community. This shift could significantly boost market sentiment and set the stage for broader acceptance of various cryptocurrencies.

As a researcher, I’ve been closely following the developments in the crypto space, and one figure whose views I find particularly noteworthy is Brad Garlinghouse, the CEO of Ripple. During the Consensus 2024 conference, he expressed optimism about the potential regulatory approval of crypto exchange-traded funds (ETFs). Specifically, he mentioned XRP, Solana, and Cardano as strong candidates for U.S. approval in the near future, following the recent SEC’s decision to allow the Spot Ethereum ETF.

This prediction has generated significant interest, implying a possible transformation in the cryptocurrency market scene.

Ripple CEO Brad Garlinghouse’s Bold Forecast

Last week’s SEC approval of an Ethereum ETF has noticeably improved investor confidence in the market. This development has sparked ongoing debates, and Ripple’s CEO, Brad Garlinghouse, asserts that we’re only seeing the start of such regulatory approvals.

At the Consensus 2024 conference, the Ripple CEO expressed his belief that XRP, Solana, and Cardano would soon have ETFs (Exchange Traded Funds) approved. Previously this year, he had made a similar prediction regarding XRP’s potential approval for an ETF.

As a researcher following the cryptocurrency market, I’ve come across an intriguing prediction: this development in the space seems consistent with Cathie Wood’s perspective as CEO of Ark Invest. In her latest interview, she highlighted the connection between Ethereum ETF approvals and the upcoming U.S. presidential election. Moreover, she indicated that Solana could potentially secure SEC approval in the near future.

She voiced her doubts that meme coin ETFs would receive the same level of approval. It’s worth noting that the crypto community is closely monitoring these developments, as they may pave the way for increased recognition of diverse cryptocurrencies.

Strategic Moves Amid Regulatory Challenges

In spite of the optimistic outlook, Brad Garlinghouse concedes that formidable regulatory obstacles persist. He voiced his concerns over the SEC’s ambiguity, specifically in relation to the classification of Ether as a security.

Moreover, Garlinghouse highlighted that SEC Chair Gary Gensler has been elusive when probed about Ether’s categorization. This uncertainty, as per Garlinghouse, poses a significant barrier to cryptocurrency advancement in the United States. It is important to note that many industry experts have criticized the SEC and Gary Gensler for their regulatory approach towards crypto and the digital asset market.

During his discussion, Garlinghouse brought up a significant point: Ripple gained access to confidential SEC emails and documents containing discussions about the securities status of Ether. These documents were triggered by William Hinman’s 2018 speech, in which he declared Ether as not being a security. Garlinghouse believes that the SEC’s position on this issue has turned into a political burden, potentially impacting the ongoing presidential race.

As a crypto investor, I’ve noticed that despite facing challenges in the U.S., Ripple has been deliberately expanding its business beyond our borders. Last year, an impressive 75% of new hires were made outside the U.S., and we now have significant offices in cities like London, Geneva, and Singapore. This trend continues this year with 60% of hiring taking place abroad.

Currently, XRP‘s price is bouncing back from its previous decline and currently sits at $0.5204, marking a 0.93% increase. Over the past 24 hours, the crypto reached a peak of $0.5258. This upward trend may be due to investor optimism following Ripple CEO Brad Garlinghouse’s recent bold statement.

Read More

2024-05-31 12:16