Experts Provide Insights on the Launch Date of Ripple’s XRP ETF
Former Ripple director Sean McBride has outlined a potential timeline for significant developments in the XRP community, sparking excitement among Ripple XRP enthusiasts. McBride predicts the emergence of a genuine XRP exchange-traded fund (ETF) in either 2024 or 2025. He also suggests that Ripple may conduct its initial public offering (IPO) outside the United States in 2025. These speculations align with the growing interest in crypto ETFs and Ripple’s previous exploration of overseas jurisdictions for potential listings.
Ripple CEO Brad Garlinghouse has acknowledged the possibility of an XRP ETF but did not provide details on the timeline or the potential issuer. However, he emphasized Ripple’s openness to various ETFs for different tokens and envisioned a landscape with diverse options and risk mitigation through baskets. Garlinghouse stated, “We would certainly welcome it. It only makes sense there will be other ETFs too.”
Regarding Ripple’s IPO plans, McBride’s timeline aligns with Garlinghouse’s recent interview, in which he mentioned the possibility of conducting the IPO outside the United States. However, the firm has temporarily postponed its IPO plans to prioritize compliance and regulatory engagement.
In terms of XRP’s performance, it has recently experienced a decline of -5.79% in the last 24 hours, resulting in a market capitalization of $29.37 billion. Year-to-date, XRP has seen a decline of -12.06%. Despite this, XRP is currently experiencing a bullish trend, indicated by the upward slope of the 50-day moving average.
Garlinghouse also shed light on Ripple’s proactive stance regarding the U.S. Securities and Exchange Commission’s (SEC) “regulation through enforcement” approach. He expressed satisfaction with the recent court decision that deemed XRP not a security, highlighting the SEC’s consistent losses in the legal dispute. Garlinghouse remains optimistic, suggesting that the resolution depends on the SEC recognizing these consistent losses or Congress intervening with new legislation.
Ripple’s commitment to compliance and regulatory engagement is evident through its participation in a super PAC alongside Andreessen Horowitz and Coinbase. This reflects Ripple’s advocacy for pro-crypto candidates who support constructive regulation and innovation.
Overall, the Ripple XRP community is eagerly anticipating the potential developments outlined by McBride and remains confident in Ripple’s future prospects.