In a recent interview with Bloomberg Crypto, Ripple President Monica Long expressed strong optimism about the imminent approval of the XRP exchange-traded fund (ETF) in the United States. Long has also provided details on the expansion of the new RLUSD stablecoin, which he believes will see significant adoption in the coming months.
Ripple’s RLUSD Set for Wide Spread
Currently, RLUSD is listed on Bitso, MoonPay, and CoinMina, with additional listings underway on platforms such as Bullish and MercadoBitcoin. Asked about availability on major US-based exchanges such as Coinbase, Long said: “We continue to expand the distribution and availability of Ripple dollars in other markets. So I think you can expect to see more availability, more announcements coming soon. “
When pressed on a timeline, he insisted: “Soon.” We have long emphasized the growing role that stablecoins are playing in both commerce and payments, describing it as the “on-ramp and off-ramp” in crypto. According to Long: “If we look at the crypto landscape in general, it’s definitely been growing in the last few places. We think this year is going to be a big year for crypto as a whole. And so the demand for stablecoins, we think, will grow along with that.” […] Ripple US dollar will have a leading role. “
Since launching on the Ethereum and XRP Ledger in December, RLUSD has reached a market capitalization of approximately $53 million. Ripple has integrated Chainlink resources into RLUSD to promote its use in decentralized finance (DeFi), further supporting Long’s vision for widespread adoption.
XRP ETF: “Coming Soon”
In addition to RLUSD, we have long talked about ETF prospects, predicting a relatively short runway for regulatory approval: “I think we will see one very soon. I think we’re going to see a lot of, you know, various spot crypto ETFs this year coming out of the US. And I think XRP will probably follow behind Bitcoin and ETH. “
He noted that various asset managers—including Canary Capital, WisdomTree, 21Shares, and others—have already listed XRP ETFs. Pointing to a good regulatory environment, Long added: “There are already many different companies such as Canary and others that have applied. So we think especially about the change of management and that the approval of this installation will be accelerated. “
In October, Bitwise filed a registration statement (Form S-1) with the US Securities and Exchange Commission (SEC) for the XRP ETF. Since then, many firms have submitted applications, but the SEC has yet to make a decision.
Long pointed out that Ripple’s payment business has doubled in the past year, indicating strong demand by institutions and companies for its solutions. He also highlighted the “particularly large” near 2024 for Ripple’s US business, noting that the company signed more local deals in the last six weeks of that year than in the previous six months.
Speculation has increased that the crypto-friendly stance of the Trump administration could accelerate the approval of crypto ETFs. XRP prices have risen more than 350% since Trump’s election victory, surpassing many other cryptocurrencies during the same period.
At press time, XRP traded at $2.31.
The featured image was created with DALL.E, a chart from TradingView.com