With a new Donald Trump administration ahead, the prospects of crypto ETF products including that of XRP has grown
The cryptocurrency market is excited about the possibility of XRP exchange-traded fund (ETF) launch in 2025. Polymarket data shows a 70% chance that Ripple will successfully launch this ETF this year. Notably, this news has influenced the market, causing XRP, Ripple’s main coin, to rise more than 3% in recent trading sessions.
XRP To Make History
Intriguingly, the possibility of a Ripple ETF is an important development for the cryptocurrency market.
It would provide a simpler way for large investors to buy XRP. ETFs, which let investors trade assets like stocks, are becoming popular in the crypto world, with Bitcoin and Ethereum already available in traditional markets. If Ripple successfully launches an ETF, it would strengthen XRP’s position as a key digital asset and move it closer to mainstream use.
Meanwhile, recent XRP optimism is also shown in expert forecasts. A prominent market analyst believes that XRP could reach $6 soon, suggesting that the expert is confident that XRP’s price will continue to rise. XRP price was up almost 2% today, trading at $2.41, while its market capitalization reached $138.54 billion. Likewise, its one-day trading volume fell 42% to $6.18 billion.
Recall that the XRP ecosystem bubbled with excitement as Ripple’s Chief Technology Officer (CTO) David Schwartz ignited a discussion on the token registering up to 10x increase. Some experts already feel the coin is repeating its trend in 2021, which proceeded with bullish momentum.
Ripple CEO’s Take on XRP ETF
During an interview, Brad Garlinghouse, CEO of Ripple Labs was vocal that the approval and proliferation of multiple ETFs could transform the financial market.
He noted that these digital investment products can democratize cryptocurrency access, increase liquidity, and foster asset competition. He further mentioned that multiple ETFs could legitimize digital assets in the eyes of regulators and traditional investors.
Ultimately, Garlinghouse believes this could lead to regulatory clarity and framework.
The Ripple Chief underlined the company’s integral role in the cryptocurrency ecosystem, although he clarified that Ripple is not the only significant force at play. He reflected on XRP’s triumphant past and emphasized how the SEC lawsuit had negatively impacted the growth of the digital asset.
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