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

Regulation Ripple XRP

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Veronika Rinecker

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Veronika Rinecker

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Veronika Rinecker is based in Germany and studied international journalism and media management. She specializes in reporting on topics such as politics and regulation, energy, blockchain, and...

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January 7, 2025

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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.

Ripple President Monica Long expects to see their new stablecoin RLUSD on more platforms "imminently" and says we will see an XRP ETF soon https://t.co/e4TuV4XPv3 pic.twitter.com/LhfIMNDDs9

— Bloomberg Crypto (@crypto) January 7, 2025

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 has adopted the @chainlink standard to bring the $RLUSD pricing data on-chain and strengthen the coin's utility and access in #DeFi.#Ripple #RLUSD #Chainlinkhttps://t.co/IvROr8CZgq

— Cryptonews.com (@cryptonews) January 7, 2025

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.

2025 is here and the Trump bull market is real. For Ripple, this is even more personal after Gensler's SEC effectively froze our business opportunities here at home for years. The optimism is obvious and very deserved.

Today:
✅75% of Ripple’s open roles are now US-based, while…

— Brad Garlinghouse (@bgarlinghouse) January 5, 2025

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.”

Great dinner last night with @realDonaldTrump & @s_alderoty.

Strong start to 2025! pic.twitter.com/UjM6lahUG4

— Brad Garlinghouse (@bgarlinghouse) January 8, 2025