The Ripple XRP community is excited as former Ripple executive Sean McBride outlines a potential timeline for the significant development. The odds for an XRP ETF have shifted to suitability as CEO Brad Garlinghouse shared insight into Ripple’s position on the XRP exchange-traded fund.
Let’s take a look at the highlights and what the future holds.
XRP ETF and IPO Speculation
McBride predict Emergence of a true XRP ETF in 2024 or 2025. He shared the following insights on X Handle: “In 2025.”
This speculation is consistent with the growing interest in cryptocurrency ETFs, especially following the US SEC’s approval of a spot Bitcoin ETF. Ripple CEO Brad Garlinghouse also acknowledged the possibility of an XRP ETF, but did not mention a timeline or potential issuer.
Garlinghouse emphasized Ripple’s openness to a variety of ETFs for different tokens, envisioning an environment that would allow for a variety of options and risk mitigation through baskets. “We would welcome that,” he said. It makes sense that there will be other ETFs as well.”
According to McBride, the Ripple community can expect Ripple’s initial public offering (IPO) in 2025. Notably, Ripple has previously explored overseas jurisdictions for a potential listing. McBirde’s suit comes after a recent interview with Garlinghouse, who mentioned that Ripple could conduct an IPO outside the United States. However, the company has temporarily postponed its IPO plans, emphasizing compliance and regulatory engagement as its top priorities.
Ripple’s XRP has also performed well recently. At the time of writing, the value of XRP is $0.53835819, a decrease of -5.79% in the last 24 hours. Recent price movements have brought XRP’s market capitalization to $29.37 billion. Year to date, XRP has experienced a -12.06% decline.
XRP is currently experiencing a bullish trend indicated by the upward slope of its 50-day moving average. However, the 200-day moving average has been falling since February 14, 2024, showing a weak trend.
Is Ripple in the right legal position?
Garlinghouse reveals Ripple’s proactive stance against the SEC’s “regulation through enforcement” approach. He expressed satisfaction with the recent court decision deeming XRP not a security, highlighting the SEC’s ongoing losses in legal disputes.
The CEO remains optimistic, suggesting the solution lies in either the SEC recognizing these ongoing losses or Congress stepping in with new legislation.
Garlinghouse is confident in Ripple’s commitment to compliance and regulatory engagement. Ripple’s participation in the super PAC along with Andreessen Horowitz and Coinbase reflects its advocacy for cryptocurrency advocates who support constructive regulation and innovation.