Regulation
XRP ETF Approval Imminent, Says Ripple CEO!
Friday May 31, 2024 ▪ 3 min reading ▪ by Eddy S.
In the dynamic world of crypto, innovation and adaptation are the keys to success and sustainability. One such innovation that has caught the attention of the industry is the possibility of an exchange-traded fund (ETF) for XRP. Ripple CEO Brad Garlinghouse recently predicted the inevitability of an XRP ETF. Highlighting a new wave of crypto investment products that could emerge in the near future.
XRP ETF: an inevitable reality?
Garlinghouse expressed support for the idea of an XRP ETF at the Consensus 2024 conference. The CEO of Ripple says it is only a matter of time before such products are approved, despite significant regulatory hurdles. This statement follows Standard Chartered’s prediction of an XRP ETF launch by 2025! This indicates growing confidence in the maturity and acceptance of XRP crypto.
The market remains cautious, however, with the price of XRP currently falling. It’s business below critical resistance area at $0.549 and showing signs of downtrend on the 4-hour chart. Crypto investors and stakeholders are eagerly awaiting regulatory clarifications that could have a decisive impact on the investment dynamics and valuation of XRP.
Ripple faces crypto regulation challenges!
Garlinghouse also criticized the SEC’s lack of regulatory clarity, particularly regarding the classification of cryptocurrencies as securities. He highlighted the need for better regulatory clarity in the United States to drive innovation and investment in the crypto sector.
The prospect of an XRP ETF is particularly intriguing in the context of Ongoing legal battle between Ripple and the SEC. A favorable ruling for Ripple could pave the way for greater institutional adoption of XRP and potentially drive the crypto’s price beyond current expectations.
The anticipation of an XRP ETF represents a potentially revolutionary development for Ripple and the entire cryptocurrency ecosystem. As investors and market observers remain attentive to regulatory developments, Garlinghouse’s optimism offers a promising glimpse of what the future may hold for XRP and related crypto investment products.
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Basically a crypto community manager, I am interested in everything directly or indirectly related to blockchain and its derivatives. In order to share my experience and raise awareness of a field that fascinates me, there is nothing better than writing articles that are informative and relaxed at the same time.
DISCLAIMER
The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.