when

Steve

The XRP price showed a new sign of life on Monday when the cryptocurrency surged more than 27% from its intraday low, breaking past numerous resistance levels to set a new yearly high above $0.745. This leap in price has not only caught the eye of investors but also sparked discussions around the future of the asset, particularly concerning the potential launch of an exchange-traded fund (ETF). 
Martin Hiesboeck, Head of Research at Uphold Exchange, has been particularly vocal about the developments in the ecosystem. Reflecting on the asset’s recent performance, Hiesboeck credited the positive momentum to “increased development on XRP since the lawsuit was settled,” referencing the regulatory clarity obtained last year. 
He further hinted at the proximity of an ETF by stating, “We are finally seeing the fruits of increased development on XRP since the lawsuit was settled. An XRP ETP is around the corner, too. There is life in the old girl.” 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 We are finally seeing the fruits of increased development on <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$XRP</a> since the lawsuit was settled! An XRP ETP is around the corner too. There is life in the old girl. 
 — Dr Martin Hiesboeck (@MHiesboeck) <a href="https://twitter.com/MHiesboeck/status/1767539200075714999?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">March 12, 2024</a>
</blockquote> 
<h2 id="the-rocky-road-to-an-xrp-etf-in-the-us">The Rocky Road To An XRP ETF In The US</h2> 
The anticipation of an ETF stems from the broader expansion of the ecosystem. Developments such as the soon to be activated <a href="https://bitcoinist.com/ripple-cto-xrp-price-amm-feature/" target="_blank" rel="noopener ">Automated Market Maker</a> (AMM) for the XRP Ledger (XRPL) and the <a href="https://bitcoinist.com/ethereum-sidechain-xrp-ledger-close-to-launch/" target="_blank" rel="noopener ">Ethereum-compatible sidechain</a>, which is currently being tested. 
Despite the excitement, the path to an ETF in the United States remains speculative, with major asset managers like BlackRock adopting a <a href="https://bitcoinist.com/blackrock-file-for-an-xrp-etf-2/" target="_blank" rel="noopener ">cautious stance</a>. However, industry optimism is palpable, with figures such as Ripple CEO Brad Garlinghouse and Valkyrie’s Steve McClurg expressing confidence in the inevitability of an ETF. 
In an <a href="https://bitcoinist.com/xrp-etf-debate-ripple-ceo-garlinghouse-weighs-in/" target="_blank" rel="noopener ">interview</a> three weeks ago, Garlinghouse welcomed the idea of an ETF, suggesting that the evolution of crypto ETFs follows a natural progression toward diversification and maturity in the investment landscape. “I think it only makes sense,” he stated, drawing parallels to the early days of the stock market, where diversification was not just a strategy but a necessity for managing investment risk. 
“There will be other ETFs […] And so I think we will see other ETFs; when we will see them is hard to predict,” Garlinghouse added. Echoing Garlinghouse’s optimism, Valkyrie’s executive Steve McClurg <a href="https://bitcoinist.com/xrp-etf-filings-post-bitcoin-approval-valkyrie/" target="_blank" rel="noopener ">remarked</a> in a January interview, “You know I think we’re going to see a lot of filings come out for Ethereum. I even think we might see something for Ripple given the recent progress.” 
Remarkably, experts, including Bloomberg’s Eric Balchunas, have recently lowered the odds of a spot Ethereum ETF to 35% due to the latest events. An XRP ETF only seems likely if the largest altcoin by market capitalization paves the way. 
Internationally, the scenario appears more favorable for investment vehicles based on the asset, with products like an exchange-traded product (ETP) already listed on the Swedish Stock Exchange and 21Shares Ripple XRP ETP in Europe, which tracks the performance of the cryptocurrency. 
At press time, XRP traded at $0.68775. 
<img loading="lazy" decoding="async" class="size-full wp-image-286887" src="https://bitcoinist.com/wp-content/uploads/2024/03/XRPUSD_2024-03-13_13-47-04.png?resize=1024%2C472" alt="XRP price" width="1024" height="472" srcset="https://bitcoinist.com/wp-content/uploads/2024/03/XRPUSD_2024-03-13_13-47-04.png?resize=1024%2C472?w=3628 3628w, https://bitcoinist.com/wp-content/uploads/2024/03/XRPUSD_2024-03-13_13-47-04.png?resize=1024%2C472?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/03/XRPUSD_2024-03-13_13-47-04.png?resize=1024%2C472?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/03/XRPUSD_2024-03-13_13-47-04.png?resize=1024%2C472?w=980 980w, https://bitcoinist.com/wp-content/uploads/2024/03/XRPUSD_2024-03-13_13-47-04.png?resize=1024%2C472?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2024/03/XRPUSD_2024-03-13_13-47-04.png?resize=1024%2C472?w=2048 2048w, https://bitcoinist.com/wp-content/uploads/2024/03/XRPUSD_2024-03-13_13-47-04.png?resize=1024%2C472?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/03/XRPUSD_2024-03-13_13-47-04.png?resize=1024%2C472?w=1140 1140w, https://bitcoinist.com/wp-content/uploads/2024/03/XRPUSD_2024-03-13_13-47-04.png?resize=1024%2C472?w=3000 3000w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1">

XRP ETF Is ‘Around the Corner,’ Claims Uphold Research Chief

Table of Contents

Bitcoinist

Other articles published on Mar 13, 2024

Arbitrum Initiates Program to Boost Web3 Gaming Sector

AMD’s 7950X CPU Ushers in a New Era of Cost-Effective Mining

RNDR’s Unstoppable Trajectory to Secure Top 10 Crypto Market Cap Spot

6 Best Cheap Crypto to Buy Now Under 1 Dollar March 13

Cryptocurrency Arbitrum Up More Than 7% In 24 hours

SHIB Price Prediction: Will the Shiba Inu price 500x in the Next 7 Days?

Join our free newsletter for daily crypto updates!