Ripple CEO: XRP ETF launch inevitable despite hurdles
The Most Important Points in Brief
- Ripple CEO Brad Garlinghouse sees the introduction of an XRP ETF (Exchange Traded Fund) as inevitable.
- The SEC (U.S. Securities and Exchange Commission) continues to impose regulatory hurdles, particularly due to the ongoing legal battle with Ripple.
- The market shows significant interest in cryptocurrency ETFs, especially after the success of Bitcoin and Ethereum ETFs.
- The XRP price reacted positively in the short term to Garlinghouse’s statements but remains volatile overall.
Ripple CEO Remains Optimistic
Ripple CEO Brad Garlinghouse expressed his confidence regarding an XRP ETF in an interview with Bloomberg TV. He described the introduction of such a financial product as “inevitable.” Garlinghouse pointed to the growing demand for digital assets from both institutional and retail investors. The success of the Bitcoin ETF is a clear indication of this trend. An XRP ETF would therefore be a logical next step in the market’s development.
Success of Bitcoin and Ethereum ETFs as a Model
Bitcoin ETFs have seen great success since their introduction, attracting institutional investors. Ethereum ETFs followed in July and have also garnered interest, albeit to a lesser extent. Garlinghouse emphasized that the success of Ethereum ETFs is proportional to ETH’s market dominance. He expressed optimism that an XRP ETF could be similarly successful, particularly due to the growing global XRP community.
Regulatory Hurdles from the SEC
Despite positive market prospects, there are significant regulatory challenges. The SEC is hesitant to approve cryptocurrency ETFs, especially due to the ongoing legal dispute with Ripple. The central question is whether XRP should be classified as a security. Although a federal judge ruled that XRP is not a security in sales to retail customers, uncertainty remains as the SEC has appealed this decision. Two firms, Bitwise and Canary Capital, have already filed applications for an XRP ETF, but the path to approval remains unclear.
Impact on XRP Price
Following Garlinghouse’s optimistic statements, the XRP price saw a slight increase of 0.20% within 24 hours. However, this short-term rise was not enough to offset the losses of recent weeks. In the past few days, the price fluctuated between USD 0.59 and USD 0.54, before falling to a low of USD 0.51. At the time of writing, the price stood at USD 0.52. Technical indicators such as the RSI (Relative Strength Index) showed slight improvement, while volatility decreased due to tighter Bollinger Bands.
Our Assessment
The introduction of an XRP ETF seems to be a matter of time, but regulatory hurdles, particularly from the SEC, remain a significant obstacle. The market shows great interest in cryptocurrency ETFs, and the success of Bitcoin and Ethereum ETFs could pave the way for more products. However, it remains to be seen how the legal disputes will unfold and whether the SEC will change its stance on XRP. Investors should closely monitor developments, as these could significantly impact both the price and market acceptance of XRP.
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| Symbol | XRP |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
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| Cons |
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| Price | $0.53 |
| 24h % | 1.63 % |
| 7d % | -2.36 % |
| 30d % | -9.81 % |
| 60d % | -11.85 % |
| 1y % | -4.09 % |
| Official Links | Website |
| Socials | X |
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