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Ripple President Monica Long foresees an XRP exchange-traded funds (ETFs) as "inevitable," pointing to the significant trading volume and market cap of XRP as key drivers of institutional interest in the crypto market.
An XRP ETF, as Ripple President Monica Long suggests during an interview with CNBC, could be a game-changer. With the current regulatory clarity in the US, especially with Bitcoin in a prime position.
Long's comments underscore the robust daily trading volume of XRP and its status as one of the top ten assets by market cap, instilling a sense of optimism about the potential of XRP ETFs in the cryptocurrency market.
Institutional Crypto Interest
Additionally, she revealed that tokenized assets and Bitcoin ETFs are driving institutional interest in cryptocurrency, which is on the rise. Long claims that more crypto-based financial products may be on the horizon due to heavy investment activity from bigwig investors.
Long's remarks come after Ripple CEO Brad Garlinghouse forecasts the approval of XRP ETFs by 2025. In an interview with Fox Business, Garlinghouse cited recent regulatory progress and growing market optimism.
Moreover, he spoke positively about the prospects of the upcoming Ethereum ETFs.
Stablecoin Valuation Projections
Long referenced estimates that, over the next five years, the stablecoin industry might reach a total valuation of more than $3 trillion. The rising demand for stablecoins, she said, is a result of their convenience and the ease with which they can be exchanged for US dollars.
Coingape reports that Long believes that Ripple's position in the cryptocurrency industry will be further solidified due to the stablecoin project's ability to draw substantial institutional interest.
XRP's Continued Significance
The Ripple president disclosed that the business is developing an unnamed stablecoin project that should go live by the end of 2024. And she said, "We are working on everything you need to do to bring a product like this to market."
Long assured that the XRP token would continue to be essential even after the stablecoin's launch, as it will continue to function as a bridge asset.
