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Ripple Crypto: Between Soaring Prices and XRP ETF Rumors

Thu 14 Mar 2024 ▪ 3 min of reading ▪ by Mikaia A.
Invest

As Bitcoin ETFs have captivated US investors and are poised to charm the world, finance is poised to extend these trackers to other cryptocurrencies. According to recent rumors, Ripple’s XRP could be next on the list.

Letter mentioning "ETF" and XRP logo

Renaissance of XRP: The Overshadowed Crypto Takes Flight

Since the green light from the United States Securities and Exchange Commission on January 10th, Bitcoin ETFs have been a resounding success. Currently, all eyes are turned back to the American regulator, this time for Ethereum Spot ETFs. However, it seems hesitant to make its decision, prolonging the wait within the crypto community.

XRP, often in the shadow of its competitors, surprises with a spectacular rise. Last Monday, its price jumped by 20.5%, breaking through barriers to hit an annual high of $0.7440. The price of XRP crypto is set at $0.6902 at the time of writing this article.

This surge comes as XRP aficionados voice their concerns about its performance in this bull market.

Martin Hiesboeck from Uphold Exchange is closely following this meteoric rise. He attributes this performance to positive developments since last year’s decision on clear rules. A hint at an upcoming XRP ETF adds fuel to the speculation, according to CoinPedia.

As news about the XRP ETF becomes clearer, Hiesboeck confirms that XRP is a qualified fund vehicle in the United States.

Following a legal victory in July 2023, the XRP ecosystem is expanding, offering passive income opportunities through a future Automated Market Maker service. Moreover, initiatives like the cross-border payment services launched by SBI in Japan are propelling XRP into new Asian horizons.

Between Waiting and Caution

Behind the scenes in finance, anticipation around the XRP ETF is growing, despite the reserve of major managers like BlackRock. Brad Garlinghouse of Ripple and Steve McClurg of Valkyrie view the XRP ETF as an inevitability, despite the hesitations of financial heavyweights. Sean McBride, a former executive at Ripple, predicts its imminent arrival, by the end of this year or in 2025.

Globally, new XRP investment opportunities are emerging, even as the timeline for a US XRP ETF remains unclear. The recently launched XRP ETP on the Swedish stock exchange opens new doors for investors eager to dive into the market.

As the wait continues, speculators are closely monitoring developments in the world of cryptocurrency.

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Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.