As a crypto investor with a keen interest in XRP, I find Monica Long’s recent interview with CNBC extremely encouraging. The potential launch of an XRP ETF has been a topic of much discussion within the crypto community, and Long’s endorsement of its plausibility is a welcome development.
Monica Long, President of Ripple, has provided insights into the possibility of launching an Exchange-Traded Fund (ETF) based on XRP. She explained Ripple’s viewpoint on this topic, acknowledging the increasing market demand for such a product. According to her, introducing an XRP ETF would represent a logical next step.
Ripple President Deems XRP ETF Plausible
During a conversation with CNBC, Long expressed his belief that introducing an XRP Exchange-Traded Fund (ETF) could be highly beneficial, implying a strong possibility for its imminent arrival.
The reason for considering an XRP ETF, according to her argument, hinges on the current regulatory classification of XRP in the US. She highlights that among all cryptocurrencies, only XRP and Bitcoin have secured regulatory clarity within the United States.
As a dedicated researcher in the field of cryptocurrencies, I’ve long observed XRP‘s impressive run in the market. Currently, it holds a place among the top 10 digital assets by market capitalization and is one of the top 5 in trading volume. This endorsement underscores my belief that an XRP Exchange-Traded Fund (ETF) could soon make its debut on the crypto scene.
As a researcher studying the world of cryptocurrencies, I’ve noticed an intriguing development: following the successful launch of Spot Bitcoin and Ethereum ETFs, there’s been a surge of speculation among crypto analysts that XRP could be the next contender for this coveted financial instrument.
The anticipated XRP ETF brings much enthusiasm and anticipation; however, the ongoing litigation between Ripple and the US Securities and Exchange Commission (SEC) may present a formidable obstacle to its realization.
Prior to the SEC granting its approval for an Ethereum Exchange-Traded Fund (ETF) in 2024, several crypto analysts held diminished hopes for such a development. They reasoned that the SEC’s view of Ethereum as a security might complicate or even prevent the ETF from being authorized.
As an analyst, I’ve conducted a thorough examination of the ongoing legal battle between Ripple and the SEC regarding XRP. This situation bears similarities to other cryptocurrency cases, as XRP has been embroiled in a nearly four-year long courtroom tussle over allegations that it represents unregistered securities. In the lawsuit filed against Ripple, the US Securities and Exchange Commission (SEC) claimed that the crypto payments company had violated securities laws by selling XRP tokens without proper registration. However, Ripple has vehemently contested these accusations in court. Recently, Judge Analisa Torres rendered a decision that programmatic sales of XRP do not equate to unregistered securities.
Despite the regulatory challenges, Ripple’s CEO, Brad Garlinghouse, remains hopeful about the prospect of an XRP Exchange-Traded Fund (ETF), forecasting a potential approval as early as 2025.
Ripple Stablecoin Set To Launch This Year
During the interview, Long provided enlightening information about the creation and anticipated release of Ripple’s stablecoin. Although no concrete details have been given regarding the launch date or specifications, Ripple’s President hinted that it might become available to the crypto community towards the end of this year.
The significance of stablecoins in the unpredictable cryptocurrency market was underscored, with mention being made of their substantial market capitalization exceeding billions of dollars. Furthermore, it was pointed out that these stablecoins have gained popularity as a dependable method for transferring and preserving digital assets securely.
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2024-06-07 00:11