Ripple President Expects XRP ETF ‘Very Soon’
Ripple President Monica Long told Bloomberg Crypto she was optimistic about a spot XRP ETF clearance in the US. Long also discussed Ripple's new RLUSD stablecoin, which she expects to grow in popularity in the coming months.
RLUSD is listed on Bitso, MoonPay, and CoinMina, with Bullish and MercadoBitcoin listings pending. Long said, “We are continuing to expand distribution and availability of Ripple dollars on other exchanges.”
When asked about a timeframe, she said “Imminently.” Long called stablecoins “the way to on-ramp and off-ramp” in crypto, highlighting their expanding significance in trading and payments. Long says: “The crypto landscape overall has been growing in the past couple quarters.
RLUSD has around $53 million in market value after debuting on Ethereum and the XRP Ledger in December. Ripple has added Chainlink services to RLUSD to improve its DeFi protocol functionality, supporting Long's ambition for universal adoption.
“Very Soon” XRP ETF
Long also discussed RLUSD and predicted a fast regulatory clearance timeline for an ETF: “I think we will see one very soon. I expect more US crypto spot ETFs this year. I expect XRP will follow Bitcoin and ETH.”
Canary Capital, WisdomTree, 21Shares, and others have filed for XRP ETFs, she said. "There's already been a number of companies like Canary and others who have filed," Long said, citing a better regulatory climate. We expect such submissions to be approved faster after the administration change.”
Ripple's payments business quadrupled last year, demonstrating significant institutional and corporate demand for its solutions, Long said. For Ripple's US business, the final six weeks of 2024 were “especially big” since the firm inked more local transactions than in the preceding six months.
Crypto ETF approvals may be accelerated by the Trump administration's crypto-friendliness. XRP has outperformed several other major cryptocurrencies since Trump's win, rising nearly 350%.
