Ripple’s new RLUSD stablecoin aims to enhance XRP’s utility and market presence.
The potential launch of an XRP ETF could attract significant investor interest.
Ripple president Monica Long says that XRP has been trading in the top 10 for so long. The probability of an XRP ETF is super high, and due to its various use cases, many investors would likely put their money in it. This development proceeded with Ripple’s Monica Long announcing an innovative stablecoin to ‘complement’ XRP as previously reported by CNF.
In a recent tweet by Collin Brown, highlighting the statement of Monica Long that XRP has been trading in the top 10 for so long. The probability of an XRP ETF is super high, and due to its various use cases, many investors would likely put their money in it.
BÄÄÄÄÄÄÄÄÄÄÄÄM! #Ripple president Monica Long says that #XRP has been trading in the top 10 for so long. The probability of an XRP ETF is super high, and due to its various use cases, many investors would likely put their money in it! pic.twitter.com/LeIk1i4YpV
— Collin Brown (@CollinBrownXRP) June 27, 2024
In an interview, Long explicitly described that Ripple’s decision to launch a stablecoin stems from its goal to provide a cost-effective and seamless transaction experience for its existing payment clients and banks. She stated:
The US dollar stablecoin is aimed at optimizing efficiency in major payment corridors where liquidity is abundant, such as USD to EUR transactions.
Legal Clarity and Market Impact
She also highlighted the company’s refined approach to becoming an enterprise blockchain infrastructure provider. After Ripple gained legal clarity from U.S. courts, confirming XRP’s status as a commodity, thus paving the way for its operational advancement within the United States.
As per CoinMarketCap data today, Ripple (XRP) is trading at $0.4767 with an increase of 1.65% in the past day and a decrease of 2.73% in the past week, reaching to Long projects significant market impact from both the ETF and Ripple’s new stablecoin project predicted in CNF’s recent post.
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