Ex-Ripple Executive Forecasts Timelines For XRP Massive Rally and ETF Launch

Former Ripple director Sean McBride has offered his perspective on the timeline for the launch of an XRP-based exchange-traded fund (ETF) and his expectations for the potential impact of this event on XRP’s price.

McBride’s predictions come at a time of heightened interest in XRP within the crypto community, as recent ETF applications and the launch of Ripple’s RLUSD stablecoin could bring increased utility and recognition.

Early Predictions for XRP ETFs

According to McBride, an XRP ETF could be “landing” as soon as next month, a projection consistent with his earlier assertion that an ETF focused on XRP could arrive before the close of 2024. At that time, however, no XRP-specific ETF applications had been submitted to the U.S. Securities and Exchange Commission (SEC).

In recent developments, asset managers Canary Capitals and Bitwise filed applications to launch XRP ETFs . Grayscale has applied to convert its digital large-cap fund , including XRP, into a diversified crypto ETF. These filings have led to heightened anticipation among XRP investors, though McBride’s timeline remains speculative given the SEC’s stance on digital asset funds.

James Seyffart , an ETF analyst at Bloomberg, has indicated that regulatory approval for an XRP ETF may hinge on broader changes within the SEC or even legislative shifts in Congress. Such developments, including a new SEC administration or change in presidential leadership, would likely extend the timeframe for any XRP ETF approval, despite recent filings by asset managers.

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Potential Price Implications for XRP

Amid these ETF filings and the upcoming RLUSD stablecoin launch , McBride foresees 2024 as a pivotal year for XRP. He suggested that a price rally could begin next year, pending positive developments with the ETFs.

Currently, XRP is trading at approximately $0.5256, marking a year-to-date decline of over 10%. Although XRP holders have long anticipated a price surge, recent performance has fallen short of expectations, impacted by broader crypto market instability, especially within Bitcoin markets.

The likelihood of an ETF approval, however, remains uncertain. The SEC has shown considerable caution around crypto-based ETFs, and XRP’s price performance might not benefit from ETF applications until regulatory perspectives evolve.

Nevertheless, McBride’s optimism for a 2024 rally reflects a broader market sentiment that major regulatory approvals and new financial products could foster significant price momentum for XRP.

Ripple’s RLUSD Stablecoin: A New Factor for XRP Growth

Beyond the ETF discussions, McBride highlighted the significance of Ripple’s upcoming RLUSD stablecoin, predicting it will gain traction as the market for stablecoins expands. He expressed confidence that the RLUSD could benefit the XRP ecosystem, adding, “It’s going to be a lot of fun.”

Ripple CEO Brad Garlinghouse, in a recent interview , discussed the RLUSD and the role of stablecoins within Ripple’s broader payment ecosystem. He noted that stablecoins are essential to Ripple’s payment solutions, citing a period when institutional usage accounted for approximately 20% of all USDC minted. This statistic underscores Ripple’s consistent involvement with stablecoins as part of its liquidity and payment solutions.

Garlinghouse also remarked on the U.S. banking crisis and USDC’s temporary de-pegging as market signals that reinforced Ripple’s commitment to expanding its stablecoin offerings.

He highlighted Ripple’s strong balance sheet and liquidity as factors enabling it to seize emerging market opportunities without directly competing with established stablecoins like Tether and USDC. Instead, Ripple aims to introduce the RLUSD as part of a more diversified stablecoin market.

Ripple’s Strategic Position Amid Regulatory Shifts

Garlinghouse’s comments also pointed to potential shifts in the stablecoin market that could create more liquidity on the XRP Ledger (XRPL), benefiting the entire XRP ecosystem. As Tether’s dominance continues, he suggested that its market share might gradually decrease, leaving room for new liquidity solutions and stablecoin alternatives on XRPL.

McBride’s perspective offers a glimpse into the factors that could influence XRP’s performance in 2024. With the potential launch of an XRP ETF and a Ripple-backed stablecoin, XRP holders are watching closely for regulatory and market shifts that could drive the asset’s value higher in the coming year.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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