Ripple Labs CEO Brad Garlinghouse spoke on Fox Business Tuesday to discuss the future perspectives of Spot XRP ETFs. Recently, the CEO said that following Ethereum and Bitcoin, XRP, SOL, and ADA may be next in line to receive Spot crypto ETFs.
Speaking to Fox Business reporter Liz Claman, Garlinghouse doubled down on his optimism that an XRP ETF may be coming next. He discussed how the Spot Ethereum ETF opened the door for future ETFs around other assets like XRP. The SEC’s losing battle against cryptocurrency. Speaking about the SEC potentially making the fight for an XRP ETF difficult for Ripple, Garlinghouse emphatically said, “An XRP ETF is just simply inevitable.” In terms of a timeline, he said, “I think we’re going to see it in 2025.”
“People don’t want just exposure to one commodity,” Garlinghouse said. He added that it “only makes sense” to add more commodities to the market to give investors more options to trade. Therefore, XRP could be a new competitor to ETH and BTC ETFs on the market, as well as Solana and Cardano’s digital assets.
Furthermore, Brad Garlinghouse also mentioned that “XRP used to be the second most valuable digital asset.” The rise of cryptocurrency over the past few years has given healthy competition for Ripple’s digital asset.
Also Read: Ripple: Analyst Predicts XRP to Surge 500% and Surpass $2
How Will Ripple XRP ETFs Affect The Asset’s Price?
Previously, Garlinghouse had stated that if the SEC (Securities and Exchange Commission) approves one ETF, it will be difficult for the financial watchdog to decline others. He is not the first to share this optimistic outlook on a potential Ripple XRP ETF. Former Ripple executive Sean McBride also said earlier this year that we may see an XRP ETF either in 2024 or 2025. Now, the Ripple Labs CEO is adding another spark to that fire.
XRP has been stagnant over the past month, seeing little movement beyond the $0.55 threshold. However, the Ripple XRP ETF development is currently being dubbed “huge” for the token, which is struggling to gain traction from all possible fronts. With Ethereum ETFs gaining approval recently, the echoes of XRP ETFs are loud, urging Ripple to project considerable price action shortly.
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Upon the first applications of Spot XRP ETFs, the price of XRP is expected to surge, with the $1 milestone potentially coming true. Following news around Bitcoin and Ethereum ETFs at their respective times, each of those assets surged in value, with Bitcoin exploding to all-time highs following its ETF approval in January. The exact value that XRP may reach following the first ETF application is unclear, but it is certain that the price will skyrocket.