Sun, June 30, 2024 at 01:58

• 

  Kang-hoon

  • Hello, Annie.

  • Today, I have some intriguing news about the possibility of an ETF for Ripple's XRP.

  • 
• Annie

  • Oh, really?

  • That sounds interesting!😊 Can you tell me more about it?

  
• 

  Kang-hoon

  • Certainly.

  • In a recent interview, Monica Long, President of Ripple, mentioned that an XRP ETF is feasible and has significant community support and momentum.

• Annie

  • Wow, that's promising!

  • What does Brad Garlinghouse, the CEO, think about this?

  
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• 

  Kang-hoon

  • Brad Garlinghouse is also optimistic.

  • 

  • He noted that the launch of the spot Ethereum (ETH) ETF has paved the way for ETFs for other assets, especially XRP.

• Annie

  • That's great to hear!

  • Did he mention any timeline for the XRP ETF?

  
• 

  Kang-hoon

  • Yes, he called the launch of an XRP ETF 'inevitable' and predicted that it will most likely happen in 2025.

• Annie

  • 2025, huh?

  • That's quite a wait.

  • Is there any chance it could happen sooner?

  
• 

  Kang-hoon

  • If Solana (SOL) is the first to get an ETF, it's possible that XRP could follow shortly after.

  • However, the general consensus is that 2025 is the most likely timeframe.

• Annie

  • I see.

  • What about the demand for XRP and other cryptocurrencies like Cardano (ADA)?

  
• 

  Kang-hoon

  • According to a GSR report cited by WatchGuru, XRP and Cardano (ADA) have demand scores of -0.2 and -0.5, respectively, making an ETF launch unlikely in the near term.

• Annie

  • Hmm, that's a bit concerning.

  • What did the report say about other types of ETFs?

  
• 

  Kang-hoon

  • The report mentioned that while a solar or crypto ETF could launch first, an XRP ETF is most likely to come in 2025, aligning with Garlinghouse's forecast.

• Annie

  • Got it.

  • How has XRP been performing recently?

  
• 

  Kang-hoon

  • Ripple's XRP, the seventh-largest cryptocurrency by market capitalization, is down 3.25% over the past week.

• Annie

  • That's not great.

  • What’s its current trading price?

  
• 

  Kang-hoon

  • As of 10:46 a.m.

  • ET today, XRP was trading at $0.4718, according to CoinMarketCap.

• Annie

  • Wow, that's quite low compared to its all-time high.

  • When was its peak?

  
• 

  Kang-hoon

  • XRP's all-time high was $3.84, reached on January 4, 2018.

  • It's down about 87.72% from that peak.

• Annie

  • That's a significant drop.

  • Do you think this ETF news is a good sign for the market?

  
• 

  Kang-hoon

  • Yes, I believe it is.

  • The potential for an XRP ETF indicates growing institutional interest and could lead to increased market stability and investor confidence.

• Annie

  • That sounds hopeful!

  • Thank you for the detailed explanation, Kang-hoon.

  • This news seems like a positive development for XRP.😊

  
• 

  Kang-hoon

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.