Monica Long Backs XRP ETF Launch Citing Strong Market Position and Regulatory Clarity

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  • Ripple’s Monica Long champions the inevitability of an XRP ETF given the regulatory environment akin to Bitcoin in the U.S.
  • She underscores XRP’s position within the top 10 market capitalizations and its significant daily trading volumes as pivotal factors for ETF consideration.
  • Ripple has further expanded its footprint in Europe through a partnership with Clear Junction for GBP and EUR settlements.

Explore the emerging prospects of an XRP ETF and Ripple’s ambitious plans including stablecoin innovations and European market expansions.

Ripple’s Leadership Signals Confidence in XRP ETF Approval

Ripple’s President, Monica Long, has publicly backed the potential creation of an XRP Exchange-Traded Fund (ETF). Her perspective aligns with Ripple CEO Brad Garlinghouse’s views on the subject, emphasizing a parallel regulatory stance with Bitcoin to advocate for the ETF’s feasibility.

The Argument for an XRP ETF

Speaking in an interview with CNBC, Long highlighted XRP’s sustained ranking within the top 10 cryptocurrencies by market capitalization and its high daily trading volume. These factors, she argues, are instrumental in making the case for an XRP ETF, potentially propelling the market forward by providing investors with regulated exposure to the asset.

Ripple’s Expansion into the Stablecoin Market

Monica Long also unveiled Ripple’s foray into the stablecoin ecosystem, hinting at an unreleased stablecoin project expected to debut by the end of the year. This initiative underscores Ripple’s commitment to enhancing global trade efficiency, with XRP continuing to act as the core bridge currency within the Ripple network post-stablecoin launch.

Strong Growth Projections for Stablecoins

According to Long, the stablecoin sector is on the brink of substantial growth, with projections suggesting a valuation exceeding $3 trillion within the next five years. The surging demand is attributed to the utility of stablecoins in executing seamless cross-border payments and their effective peg to fiat currencies such as the US dollar.

Strengthening Ripple’s European Market Presence

Ripple has bolstered its presence in the European market through a strategic partnership with Clear Junction. This collaboration is aimed at enhancing cross-border payment services, enabling rapid and secure settlements in GBP and EUR for Ripple’s clientele. This move reaffirms Ripple’s strategy to deepen its market penetration and streamline its service offerings across Europe.

Conclusion

Monica Long’s insights highlight Ripple’s proactive steps in advancing the cryptocurrency market through potential ETF offerings, stablecoin initiatives, and strategic partnerships. These developments underscore the company’s mission to facilitate global financial inclusion and democratize access to digital assets.

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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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