Cryptocurrency remains uncertain, particularly events involving Ripple and the SEC, which continue to stir XRP. The approval of Bitcoin and Ethereum ETFs has shifted focus towards potential new ETFs. Recently, many have remarked that Solana seems closer to an ETF than XRP. Amidst all this, Ripple’s CEO made a significant statement just minutes ago.
Is an XRP ETF on the Horizon?
Ripple CEO Brad Garlinghouse made a noteworthy statement just minutes ago. Despite legal pressures on Ripple and XRP, this prominent figure believes XRP ETFs could begin operating as soon as 2025. While Bitcoin and Ethereum ETFs dominate in 2024, XRP, ranked in the top 10 markets and holding billions of dollars in volume, faces numerous legal hurdles, but this possibility is still under discussion.
JUST NOW ON CLAMAN⬇️⬇️
Brad Garlinghouse on XRP ETF and regulations!
ETF = 2025 😎 https://t.co/i8Wv3OOehR pic.twitter.com/8T1pAcdKAm
— Chad Steingraber (@ChadSteingraber) June 4, 2024
However, it’s important to note that Ripple still faces an unresolved SEC lawsuit that has persisted for 4 years. Last summer, a temporary decision brought a victory for Ripple and Brad Garlinghouse, but it wasn’t the final decision.
Related: Significant Developments in Ripple vs. SEC Lawsuit
Amidst all these events, a closer look at what’s happening with XRP is warranted, and today, XRP’s price seems to be experiencing positive momentum.
What is the current price of XRP?
XRP’s price is on the rise at the time of writing this news. XRP is trading at $0.5268 after a 1% increase in the past 24 hours. During this period, the market cap has returned to $30 billion.
Trading volume in the past 24 hours appears to have surged. Following this news, the value has increased by over 8%, resulting in a trading volume of $1.1 billion.
XRP’s RSI value has also risen sharply alongside the price increase, surpassing the neutral zone and reaching 56.33. This could be interpreted as buyers exerting increasing pressure on sellers.
