United

In a significant development for the crypto world, Grayscale announced the launch of the first-ever XRP trust in the United States, sparking excitement throughout the industry. This move by Grayscale has been seen as a potential precursor to the much-anticipated spot XRP ETF. 
Ripple CEO Brad Garlinghouse responded to the news on his X account, stating that while he was surprised at first, he ultimately viewed it as an inevitable outcome given the legal clarity XRP has gained in the U.S. Garlinghouse emphasized that this decision would lay the foundation for further XRP growth, suggesting that it’s only a matter of time before XRP sees significant advancements. 
<blockquote class="twitter-tweet"> 
 Was (pleasantly) surprised to see this news…though inevitable, as well?! 
 As I’ve said before, with XRP having regulatory clarity in the US and other countries, I expect it’s only a matter of time for this space to grow. <a href="https://t.co/tIqZMZeuNW" rel="nofollow" target="_blank">https://t.co/tIqZMZeuNW</a> 
 — Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1834303366924828825?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">September 12, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="grayscale-s-move-and-its-implications-for-xrp">Grayscale’s Move and Its Implications for XRP</h2> 
Grayscale’s decision to launch an XRP trust was widely celebrated in the cryptocurrency sector. Many experts believe that this could pave the way for a spot ETF in the future, much like Grayscale’s products for <a href="https://www.turkishnyradio.com/major-shift-in-bitcoin-and-ethereum-miners-resume-accumulation/" target="_blank" rel="noopener">Bitcoin</a> (BTC) and Ethereum (ETH). 
Garlinghouse echoed this sentiment, noting that XRP’s legal victory in the U.S. has removed barriers, making Grayscale’s move both strategic and timely. He further predicted that this could accelerate XRP’s expansion in the market. 
<img loading="lazy" decoding="async" class="alignnone size-full wp-image-14863" src="https://www.turkishnyradio.com/wp-content/uploads/2024/09/Ripple-and-Grayscale-XRP-decision-emphasizing-financial-impact-and-cryptocurrency-growth.-The-image-sh.webp" alt="Ripple and Grayscale XRP decision emphasizing financial impact and cryptocurrency growth. The image sh" width="1792" height="1024" title="Ripple CEO Comments on Grayscale’s XRP Decision, Shares His Prediction! 25" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/09/Ripple-and-Grayscale-XRP-decision-emphasizing-financial-impact-and-cryptocurrency-growth.-The-image-sh.webp 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/09/Ripple-and-Grayscale-XRP-decision-emphasizing-financial-impact-and-cryptocurrency-growth.-The-image-sh-768x439.webp 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/09/Ripple-and-Grayscale-XRP-decision-emphasizing-financial-impact-and-cryptocurrency-growth.-The-image-sh-1536x878.webp 1536w" sizes="(max-width: 1792px) 100vw, 1792px"> 
Experts analyzing the situation also suggest that XRP’s fortunes are turning in its favor, with the Grayscale trust being viewed as a key step toward a broader acceptance of XRP in mainstream financial products. 
<h2 id="xrp-s-market-reaction">XRP’s Market Reaction</h2> 
Following Grayscale’s announcement, XRP experienced a notable surge, with prices jumping over 5% in 24 hours to trade at $0.566. This rise reflects the growing optimism in the market surrounding XRP’s future. 
As Grayscale continues to be a primary driver behind spot ETF proposals, many in the industry expect that the newly launched XRP trust could eventually lead to the creation of a spot XRP ETF. 
For more updates on the latest developments in cryptocurrency and XRP’s future, stay tuned to Turkish NY Radio.

Ripple CEO Comments on Grayscale’s XRP Decision, Shares His Prediction!

Table of Contents

TNYR

Other articles published on Sep 13, 2024

Warning: Doge2014 Presale Could Be a Scam – Stay Alert!

Is the DOGE Story Ending in 2024, or Is a Big Rally Coming?

FET Outperforms BTC, ETH, SOL in Daily Earnings: A Shift in Crypto Dominance?

Hamster Kombat (HMSTR) Reveals Tokenomics with 75% Allocated for Player Rewards

Bitcoin ETFs See Major Turnaround—Could This Spark a New Rally?

Vietnam's Blockchain Frontier: Nurturing the Next Generation of Developers

Join our free newsletter for daily crypto updates!