In a recent interview with Bloomberg on Tuesday, Long posited that favorable regulatory winds under the Trump administration’s pro-cryptocurrency stance could accelerate the approval of upcoming spot cryptocurrency ETFs. It is predicted that XRP, Solana, and Dogecoin are strong contenders for the next wave of crypto spot ETF approvals.
Long expressed his belief that a crypto spot ETF from the U.S. could debut soon. He also suggested that XRP might follow Bitcoin and Ethereum as the next digital asset to be listed on such an ETF, given the change in administration, which he believes will expedite the approval process for related filings.
Ripple’s RLUSD Stablecoin Grows
Additionally, Ripple is preparing for more developments. Long mentioned that their new stablecoin, RLUSD, is set to be listed on additional exchanges very soon. She envisions RLUSD playing a significant role in strengthening Ripple’s payments and monetary operations. Launched in December on both Ethereum and the XRP Ledger, RLUSD has already amassed a market capitalization of $72 million. On Tuesday, integrations with Chainlink added an additional layer of DeFi functionality, potentially broadening its adoption possibilities even further.
In October, there was a growing excitement around ETFs as Bitwise submitted the initial application for an XRP-linked ETF, making them the first asset manager to do so. Following this move, Canary Capital, WisdomTree, and 21Shares also expressed interest, but as of now, no clear decision has been made by the U.S. Securities and Exchange Commission.
Despite some lingering doubts, there’s a strong sense of hope in the air. Since November, there’s been widespread discussion that a pro-crypto administration under Trump might provide regulatory approval that favors tokens linked to U.S. companies, such as Ripple Labs and its XRP token, or Uniswap and others.
Good News for XRP
In a positive development for XRP, Ripple disclosed that it secured more domestic deals in the last six weeks of 2024 than it did in the preceding six months. Notably, XRP’s value has soared by over 300% since Trump’s election, surpassing every other significant token, driven by growing optimism that increased U.S. involvement could ignite the next major crypto surge.
Indeed, the excitement surrounding Ripple and XRP is intensifying this week, with Ripple CEO Brad Garlinghouse being seen having dinner with President Trump at Mar-a-Lago. This encounter, signified by Trump’s thumbs up gesture, has left investors of XRP hopeful that the price of XRP will perform favorably in 2025.
Garlinghouse stated this week that 75% of Ripple’s current job positions are now located within the United States, marking a significant shift from the previous four years when the company focused more on hiring internationally. He further noted, “For Ripple, this change feels particularly significant following the SEC’s actions under Gary Gensler, which effectively limited our business opportunities in the U.S. for several years.” This was expressed in a post he made on platform X.
Indeed, there’s often another perspective: Previous governments made pledges of clarity that never materialized, so it remains uncertain if this momentum will lead to enduring policy changes. However, if Long is correct, an XRP ETF might be imminent – offering a fresh investment landscape for both dedicated cryptocurrency enthusiasts and traditional investors.
While some doubt the permanence of current developments, an XRP ETF could soon become a reality, creating exciting new investment possibilities for crypto fans and mainstream investors alike. It’s yet to be seen if long-term policy changes will result from past administrations’ unfulfilled promises of clarity.
XRP Price Set to Rally Higher
According to Analyst Credibull’s recent insights on X, he predicts that after Bitcoin’s current drop, XRP will hit a lower point before rebounding and setting the stage for its next surge. The projected prices for XRP are much higher than one might initially expect. For those looking to invest in cryptocurrencies over the long term, it’s advisable to include XRP as a key component of their 2025 investment strategy.
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2025-01-08 21:34