Insider Claims Ripple XRP ETF Might be Launched in 2024
Former Ripple director Sean McBride has made bold predictions for the future of Ripple and XRP. McBride believes that there will be an XRP exchange-traded fund (ETF) by 2024 or 2025, as well as a Ripple initial public offering (IPO) outside of the US in 2025. These projections align with the increasing interest in crypto ETFs following the approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC). Ripple CEO Brad Garlinghouse has also expressed openness to the possibility of an XRP ETF, although he has not provided a specific timeline or potential issuer.
In addition to an IPO, McBride foresees Ripple going public in 2025. This prediction is supported by Garlinghouse’s recent comments hinting at a potential IPO outside of the US. However, Ripple has temporarily delayed its IPO plans in order to prioritize compliance and regulatory engagement. The company has been exploring overseas jurisdictions for potential listing, adding an international dimension to its strategic vision.
Turning to XRP’s current performance, the cryptocurrency is currently valued at $0.53835819. It has experienced a decrease of 5.79% in the last 24 hours, bringing its market capitalization to $29.37 billion. Year-to-date, XRP has seen a decline of 12.06%. While there is a bullish trend indicated by the upward slope of the 50-day moving average, caution is advised as the 200-day moving average has been on a downward trajectory since February 14, 2024, suggesting a weak market trend.
Regarding Ripple’s legal situation, Garlinghouse has expressed satisfaction with recent court decisions that have been favorable to Ripple in their SEC lawsuit. He highlights the SEC’s consistent legal losses in the dispute and remains optimistic about potential resolutions, either through the SEC acknowledging their defeats or Congress intervening with new legislation. Ripple continues to prioritize compliance and regulatory engagement, actively participating in a super PAC to advocate for pro-crypto candidates who support constructive regulation and innovation.