Ripple President Monica Long recently suggested that an XRP exchange-traded fund (ETF) could soon become a reality, driven by favorable U.S. crypto regulations that benefit domestic businesses. In a Bloomberg interview on Tuesday, Long expressed optimism about the upcoming regulatory environment, particularly under the new administration.
“I believe we will see an XRP ETF very soon,” Long stated. “There’s a growing expectation that more crypto spot ETFs will emerge from the U.S. this year, and XRP is likely to follow bitcoin and ether as the next candidate.”
She highlighted that the shift in administration could speed up the approval process for these filings, suggesting that XRP’s potential ETF listing may be closer than expected.
Long also discussed Ripple’s latest product, the RLUSD stablecoin, which she expects to be listed on more exchanges “imminently.” Ripple’s plans for RLUSD are aimed at expanding its presence in payments and financial services. Launched in December on both Ethereum and XRP Ledger, RLUSD currently has a market capitalization of $72 million as of Wednesday. In an effort to increase its utility, Ripple integrated Chainlink’s services earlier this week, enhancing its application within decentralized finance (DeFi) protocols.
In October, Bitwise Asset Management filed with the U.S. Securities and Exchange Commission (SEC) for an XRP ETF. This was followed by similar filings from Canary Capital, WisdomTree, and 21Shares. However, no decisions have been made on these applications yet.
There has been growing speculation since November that a crypto-friendly U.S. administration under President Trump could be advantageous for tokens tied to U.S.-based companies like Ripple and Uniswap. These firms are seen as key players in supporting token value, particularly in the U.S. market.
Ripple has already started to benefit from the shift in the business climate, reporting more U.S. deals in the final six weeks of 2024 than in the preceding six months. This indicates a positive shift in business activity following the election.
XRP’s price has surged over 300% since Trump’s victory, outperforming other major cryptocurrencies, with much of its growth driven by the favorable U.S. regulatory narrative surrounding Ripple.
