Ripple President: XRP ETF Makes “A Lot of Sense”

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Ripple President: XRP ETF Makes "A Lot of Sense"
  • Ripple’s Monica Long supports the inevitability of an XRP ETF, citing regulatory clarity akin to Bitcoin’s status in the U.S.
  • Long emphasizes XRP’s consistent top 10 market cap ranking and substantial daily trading volume as drivers for an ETF launch.
  • Ripple expanded its European market presence through a partnership with Clear Junction for GBP and EUR payouts.

Ripple President Monica Long has voiced support for the potential launch of an XRP Exchange-Traded Fund (ETF), echoing similar sentiments from Ripple CEO, Brad Garlinghouse. Long drew parallels between Bitcoin and XRP, highlighting the regulatory clarity surrounding XRP in the U.S. as the basis for her endorsement.

Speaking to CNBC, Long cited XRP’s consistent position as a top 10 crypto asset by market capitalization and its robust daily trading volume, arguing that these factors make an XRP ETF a logical next step for the market.

Garlinghouse previously expressed confidence in the inevitability of an XRP ETF, emphasizing investor preference for diversified exposure to multiple cryptocurrencies rather than solely investing in a single coin. 

Additionally, Long revealed the company’s foray into the stablecoin space, detailing ongoing work on an undisclosed stablecoin project slated for release by year’s end. She highlighted Ripple’s commitment to facilitating global trade and confirmed that the XRP token will continue to function as a bridge asset within the Ripple ecosystem even after the stablecoin launch.

Long also noted that the stablecoin industry is poised for growth, citing estimates that suggest the sector may reach a cumulative valuation of over $3 trillion in the next five years. The increased demand for stablecoins, according to her, stems from their ease of use in facilitating transactions, particularly for cross-border payments, and their accessibility to fiat currencies like the US dollar. 

Beyond its forays into ETFs and stablecoins, Ripple has strengthened its presence in the European market through a collaboration with Clear Junction. The partnership aims to optimize cross-border payment services by enabling instant and secure GBP and EUR-denominated payouts for Ripple’s clients.

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