Ripple President Monica Long said that crypto-friendly regulations in the United States strengthen the possibility of an exchange-traded fund (ETF) for XRP being approved.
Long stated in an interview with Bloomberg that XRP is the next candidate after Bitcoin and Ethereum ETFs.
“I think we will see an XRP ETF soon,” Long said, adding that he expects more crypto spot ETF approvals from the U.S. in 2025. “We think that the approval process for these applications will accelerate, especially with the change in governance,” he added.
RLUSD Stablecoin and Ripple’s Strategy
Monica Long also revealed that Ripple’s new stablecoin RLUSD will soon be listed on more exchanges. The stablecoin is expected to become a key part of Ripple’s payment and money transfer services. RLUSD was launched on the Ethereum and XRP Ledger networks in December and currently has a market cap of $72 million.
Last week, RLUSD took a significant step towards expanding its use case in decentralized finance (DeFi) protocols with its adoption of Chainlink services.
Is XRP ETF Approval Nearing?
The process of ETF applications for Ripple appears to be accelerating. Last October, Bitwise filed with the US Securities and Exchange Commission (SEC) for an XRP-related exchange-traded fund. Following this, firms such as Canary Capital, WisdomTree and 21Shares have also filed separate applications to offer an XRP ETF. However, no decisions have been made on these applications yet.
Long’s optimistic statements are in line with the increasing speculative expectations in the market since November. Crypto investors expect crypto-friendly policies during Donald Trump’s presidency to yield positive results, especially for assets like XRP and UNI, which are tokens tied to U.S.-based companies.
Trump’s post-election promises are already reportedly having a positive impact on Ripple’s business. The company announced that it signed more deals in the US in the last six weeks of 2024 compared to the previous six months. This is considered a sign of a positive change in the business environment in the post-election period.
Brad Garlinghouse Meets Trump
Ripple CEO Brad Garlinghouse recently met with President-elect Donald Trump. Although the details of the meeting were not disclosed, it is thought that Ripple’s growth strategies and regulations in the US market may have been discussed. This high-level meeting reinforced expectations that Ripple could benefit from future regulations.
Stay tuned for new information
