Ripple CEO Assure XRP ETFs Coming by 2025, XRP Price Eyes For $1
The post Ripple CEO Assure XRP ETFs Coming by 2025, XRP Price Eyes For $1 appeared first on Coinpedia Fintech News
Ripple (XRP) holders are awaiting a ruling in the Securities and Exchange Commission’s (SEC) lawsuit against the payment remittance firm. The court ruling was expected in May 2024, but there have been no updates so far.
In the meantime, Ripple Labs CEO Brad Garlinghouse made a bold prediction about the future of XRP. With the approval of Bitcoin and Ethereum ETFs, Garlinghouse believes XRP ETF might be next in line, potentially to get approved by 2025.
XRP ETF Inevitable, Says Garlinghouse
Speaking with Fox Business reporter Liz Claman, Garlinghouse expressed strong confidence that an XRP ETF is inevitable. He highlights that the approval of the Spot Ethereum ETF has paved the way for similar products for other cryptocurrencies, including XRP.
Despite regulatory challenges from the SEC, Garlinghouse believes, “An XRP ETF is just simply inevitable,” and expects it by 2025. He emphasized that investors seek more diversity in their portfolios, not just exposure to a single commodity.
Introducing more commodities like XRP into the market would provide investors with more trading options, positioning XRP as a potential competitor to existing ETH and BTC ETFs, as well as digital assets like Solana and Cardano.
Garlinghouse have already mentioned that if the SEC approves one crypto ETF, it would be challenging for them to reject others. This sentiment is echoed by former Ripple executive Sean McBride, who also predicted the arrival of an XRP ETF by 2024 or 2025.
Blackrock CEO On XRP ETF
The topic of XRP ETFs gained momentum when Blackrock CEO Larry Fink was asked about it during a Fox Business interview. Although Fink didn’t give a clear answer, his response sparked speculation within the XRP community.
Meanwhile, the introduction of Spot XRP ETFs is expected to have a substantial impact on the price of XRP. Historically, the approval of Bitcoin and Ethereum ETFs has led to significant price surges for these assets. The anticipation of an XRP ETF is seen as a significant development for the token, which has struggled to break past the $1 mark recently.
As of now, XRP price is trading at $0.53, reflecting a slight increase seen in the last 24 hours. Along with this the market cap has seen a surge of $29.1 billion.
