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Ripple CEO Brad Garlinghouse forecasts the approval of XRP ETFs by 2025, citing recent regulatory progress and growing market optimism in an interview with Fox Business.
Ripple CEO Brad Garlinghouse Predicts XRP ETFs by 2025, Citing Bitcoin and Ethereum ETF Precedents
In an interview with Fox Business, Brad Garlinghouse (via CoinGape), the CEO of Ripple, shared his perspective on the potential future developments of cryptocurrencies, such as the introduction of XRP ETFs.
His predictions are predicated on the recent introduction of Bitcoin and Ethereum ETFs; consequently, there is a substantial likelihood that other cryptocurrencies, including XRP, will also have ETFs by 2025.
Brad Garlinghouse's most recent statements have been delivered amid mounting speculation and questions regarding the potential introduction of an XRP ETF. During the interview, he stated, "It is only a matter of time and it is inevitable there's going to be an XRP ETF."
Given the recent approval of Ethereum ETFs, he is confident that XRP will be authorized soon. He also elaborated on the potential for XRP to be included in crypto ETFs, implying that investment opportunities are not limited to Bitcoin and Ethereum.
The Ripple CEO also addressed the necessity of a transparent legal framework, which he deemed essential for advancing and accepting cryptocurrency exchange-traded funds (ETFs). Garlinghouse elucidates that cryptocurrencies' potential remains viable, provided the appropriate regulatory environment is established. He underscored the significance of regulators' ability to adapt and expand with the market's expansion, suggesting that effective regulation would significantly increase the likelihood of an XRP ETF.
Regulatory Clarity Crucial for XRP ETFs, Ripple, and Industry Leaders Urge SEC to Revise Framework Amid Legal Challenges
The broader context of cryptocurrency regulation in the United States is inextricably linked to the discussion of XRP ETFs. Ripple and other prominent figures in the cryptocurrency industry, such as Grayscale and Coinbase, have urged the U.S. Securities and Exchange Commission (SEC) to adopt a more lenient regulatory approach. Their objective is to persuade the SEC to revise its regulatory framework to align with the current state of the digital asset market.
The legal challenges encountered by Ripple, which recently confronted a substantial SEC lawsuit alleging improper sale practices of XRP to institutional investors, are partially responsible for the push for regulatory clarity. This lawsuit highlights the intricacies and uncertainties surrounding cryptocurrency regulations in the United States, which could affect the feasibility and scheduling of introducing XRP ETFs.
XRP Price and Trading Volume Surge Amid Speculation of ETF Approval and Regulatory Progress
Throughout these discussions, the price of XRP has been on a favorable trajectory, fluctuating between a 24-hour high of $0.53 and a low of $0.5185.
At the time of publication, the XRP price was $0.5254, representing a 0.92% increase from the support level.
At the same time, XRP's 24-hour trading volume and market capitalization increased by 6.43% and 0.92%, respectively, to $1,161,873,100 and $29,127,941,177.
Photo: Microsoft Bing
