The Ripple XRP community is excited as former Ripple director Sean McBride outlines a potential timeline for significant developments. The probabilities of XRP ETFs changed into conformity as CEO Brad Garlinghouse also shared insights into Ripple’s stance on the XRP exchange-traded funds.
Let’s delve into the key highlights and explore the future prospects –
XRP ETF and IPO Speculations
McBride predicts the emergence of a genuine XRP ETF in either 2024 or 2025. On his X handle, he shared the insights stating, “You will see a #XRP #ETF in 2024 or 2025. You will also see a #Ripple #IPO outside the US in 2025.”
This speculation aligns with the growing interest in crypto ETFs, particularly following the approval of spot Bitcoin ETFs by the U.S. SEC. Ripple CEO Brad Garlinghouse has also acknowledged the possibility of an XRP ETF but did not comment on the timeline or the potential issuer.
Garlinghouse emphasized Ripple’s openness to various ETFs for different tokens, envisioning a landscape with diverse options and risk mitigation through baskets. He states, “We would certainly welcome it. It only makes sense there will be other ETFs too.”
According to McBride, the Ripple community can expect Ripple’s initial public offering (IPO) in 2025. Notably, Ripple has previously explored overseas jurisdictions for potential listing. McBirde’s conformity comes after Garlinghouse’s recent interview, stating Ripple could conduct its IPO outside the United States. However, the firm has temporarily postponed its IPO plans, emphasizing compliance and regulatory engagement as top priorities.
Ripple’s XRP has also seen good performance recently. At the time of writing, the XRP value stands at $0.53835819, reflecting a decrease of -5.79% in the last 24 hours. The recent price movement resulted in XRP’s market capitalization settling at $29.37 billion. Year-to-date, XRP has experienced a decline of -12.06%.
XRP is presently experiencing a bullish trend, marked by the upward slope of the 50-day moving average. However, the 200-day moving average has been on a downward trajectory since February 14, 2024, which means it is a weak trend.
Is Ripple in the Right Legal Position?
Garlinghouse sheds light on Ripple’s proactive stance regarding the SEC’s “regulation through enforcement” approach. He has expressed satisfaction with the recent court decision that deemed XRP not a security, emphasizing the SEC’s consistent losses in the legal dispute.
The CEO remains optimistic, suggesting that the resolution depends on the SEC recognizing these consistent losses or Congress intervening with new legislation.
Garlinghouse remains confident in Ripple’s commitment to compliance and regulatory engagement. Ripple’s participation in a super PAC, alongside Andreessen Horowitz and Coinbase, reflects its advocacy for pro-crypto candidates supporting constructive regulation and innovation.
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Qadir AK
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
