Ripple President Monica Long has now confirmed that an XRP ETF is coming soon this year amidst the growing cryptocurrency landscape.
When asked about the possibility of a spot XRP ETF by Bloomberg Crypto, Long responded with “I think we will see one very soon.”
“I think we will see more, various cryptos spot ETFs this year coming out of the U.S., and I think XRP is likely to be next in line after Bitcoin and Eth.
There’s already been a number of different companies like Canary and others who have filed, so we think especially with the administration change and the approvals of those filings will accelerate.”
The Ripple President also reiterated how important RLUSD, Ripple’s newly launched stablecoin, and XRP are to the numerous financial institutions and banks they are currently partnered with.
Bank of America has recently made a bold move with XRP as reports suggest that the bank is executing internal transactions through XRP.
A recent report from FOX Business News has brought attention to a bold statement regarding Bank of America and its use of the cryptocurrency XRP.
This assertion, made by David Stryzewski, the CEO of Sound Planning Group, suggests that the banking giant is executing “100% of its internal transactions” through XRP.
During a segment on FOX Business aired on January 6, Stryzewski discussed the significant integration of XRP into the day-to-day operations of Bank of America.
He noted that the bank has also filed an impressive 83 patents linked to the blockchain technology that underpins Ripple, the company behind XRP.
His comments have sparked interest and speculation about the future role of XRP in the financial landscape.
Stryzewski expressed a highly optimistic outlook on XRP, asserting that it could become a foundational element in the future of the financial sector.
“XRP is going to be the track that everything runs on in the future,” he confidently stated during the broadcast.
This sentiment reflects a growing belief among some financial experts that XRP could play a crucial role in transforming how transactions are conducted globally.
And with this continued adoption, XRP’s price and market cap is guaranteed to also grow.
Many of our readers have been able to capitalize and stay in profit from XRP’s leap from $0.55 to its current levels.
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Also Read: IRS Now Delays Crypto Tax Reporting Requirements Until 2026
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