Key Takeaways:
- Ripple President Monica Long anticipates U.S. approval of an XRP ETF soon, building on momentum from Bitcoin and Ethereum ETFs.
- Ripple’s RLUSD stablecoin, integrated with DeFi via Chainlink, is set to expand to more exchanges, bolstered by a $72M market cap.
- Regulatory optimism and Ripple’s recent U.S. business growth align with a 300% surge in XRP’s price since the election.
Ripple President Monica Long has expressed optimism about the approval of an XRP exchange-traded fund (ETF), citing a favorable U.S. regulatory environment.
In a recent interview, Long predicted that XRP would likely follow Bitcoin and Ethereum in gaining ETF approval, potentially this year.
Ripple President Monica Long expects to see their new stablecoin RLUSD on more platforms "imminently" and says we will see an XRP ETF soon https://t.co/e4TuV4XPv3 pic.twitter.com/LhfIMNDDs9
— Bloomberg Crypto (@crypto) January 7, 2025
She attributed this outlook to regulatory shifts under the current U.S. administration, which she believes could accelerate ETF approvals.
Ripple’s RLUSD stablecoin is also gaining traction.
Launched in December on Ethereum and the XRP Ledger, it now has a market capitalization of $72 million and has integrated Chainlink services to enhance its utility in decentralized finance (DeFi) protocols.
Long announced plans for RLUSD to expand its availability on more exchanges, highlighting its growing role in Ripple’s financial services.
In October, Bitwise Asset Management and other firms like WisdomTree and 21Shares submitted applications for XRP-linked ETFs, although the U.S. Securities and Exchange Commission (SEC) has yet to make decisions.
Market sentiment has improved since November, with expectations that a more crypto-friendly administration could benefit Ripple and other U.S.-based companies.
Ripple has already seen tangible gains, signing more U.S. business deals in late 2024 than in the preceding months.
XRP’s price has surged over 300% amid these developments and bullish regulatory expectations.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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