Brad Garlinghouse’s X post led to widespread speculation and anticipation.
XRP community foresees XRP as the next coin to be approved by the SEC as a spot ETF.
The XRP community has been lively following a cryptic post by Ripple’s CEO, Brad Garlinghouse, which led to widespread speculation and anticipation after he posted a Chimpanzee artwork on his X account.
The artwork “Laugh now, but one day XRP will power the world” features a downcast chimpanzee wearing a sandwich board with the above words. It might refer to the coin’s legal battle, trying to send an optimistic message to its holders, or the team behind XRP is working on an innovation that will affect the entire crypto industry.
For whatever reasons, I’ve been hanging on to this one for a while…Prob my all time favorite from the XRP community. It’s been hanging on a wall in my house… but with all this momentum in the market, I wanted to share it!! pic.twitter.com/L7c861JEJZ
— Brad Garlinghouse (@bgarlinghouse) May 24, 2024
Brad revealed in the post that he felt like sharing it due to the market momentum. However, the post has mixed reactions among crypto users. While many find it a reason to dump coins, some others see it as a bullish sentiment.
Many community members see this as a hint towards a major upcoming announcement that could boost XRP’s acceptance and utility. However, Ripple’s partial legal victories against the U.S. Securities and Exchange Commission (SEC), where a judge ruled that XRP is not a security, brought new advancements in the network.
Future Advancements of Ripple
Furthermore, Ripple is stepping into the stablecoin market, aiming to grip its expertise in financial solutions. The company plans to introduce a stablecoin next to XRP backed by USD and other cash equivalents later this year. This new asset will operate on both the XRP Ledger and Ethereum blockchain, indicating Ripple’s ambition to expand its influence in the cryptocurrency space.
The recent approval of the Financial Innovation and Technology for the 21st Century Act (FIT21), a regulatory clarity that allows digital assets to flourish in the United States, has evoked some optimistic sensation among the XRP community about how this new regulation would impact the coin. Interestingly, the XRP community foresees XRP as the next coin likely to be approved by the SEC as a spot ETF.
Highlighted News of the Day
Coinbase Exec. Deemed ETH a Commodity After ETF Approval
