XRP ETF Inching Closer to Reality Under Favorable US Regulations – Ripple President

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Veronika Rinecker

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XRP ETF Inching Closer to Reality Under Favorable US Regulations – Ripple President

A spot XRP exchange-traded fund (ETF) could soon become a reality, supported by a more favorable regulatory landscape under the new US administration, according to Ripple President Monica Long.

In a Bloomberg Crypto interview published on Jan. 7, Long said that XRP ETFs could be next in line for approval.

“We think, especially with the administration change, the approvals of those filings will accelerate,” Long added.

XRP ETF and Crypto-Friendly Regulation Spark XRP Rally

Several firms, including Bitwise, Canary Capital, WisdomTree, and 21Shares, have already submitted filings for spot XRP ETFs to the US Securities and Exchange Commission (SEC).

The anticipation of a crypto-friendly administration has boosted investor sentiment towards XRP and other cryptocurrencies linked to US-based companies. Since Trump’s re-election as the next president of the United States on Nov. 7, XRP price have surged more than 350% from $0.54 to $2.44, outperforming other major cryptocurrencies like Bitcoin (BTC), Ether (ETH), or Solana (SOL).

RLUSD to Be Listed on More Exchanges

Long also added in the interview that Ripple’s new stablecoin, Ripple USD (RLUSD), will be available on more exchanges “imminently” and expects it to become a major part of the firm’s payments and money businesses.

Launched on Dec. 17 on Ethereum and the XRP Ledger, RLUSD currently has a market capitalization of $72.3 million, according to CoinMarketCap.

On Jan. 7, RLUSD adopted some of Chainlink’s services to boost utility across decentralized finance (DeFi) protocols. The collaboration will provide price feeds for RLUSD on Ethereum and the XRP Ledger, which aim to support cost-effective transactions for the stablecoin.

Ripple Expands US Hiring and Partnerships

Ripple itself has reported an increase in its US business, signing more agreements in the last six weeks of 2024 than in the previous six months.

In a Jan. 5 X post, Garlinghouse added that 75% of Ripple’s open positions are now based in the US, marking a major shift from the past four years, when 75% of hires were located outside the country. This change is also largely attributed to the pro-crypto stance of the incoming administration.

Garlinghouse specifically pointed to the former President Donald Trump, who is set to be inaugurated again on Jan. 20, and his team as a “game-changer for the crypto industry.”

“Team Trump is already jumpstarting innovation and job growth in the US,” Garlinhouse said, adding that “Trump effect” is already making crypto great again.”

In his Jan. 8 post, Garlinghouse also shared a photo of himself with Trump and Ripple’s Chief Legal Officer, Stuart Alderoty, telling his followers that it’s a “strong start to 2025.”

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