Uphold bank executive Martin Hiesboeck is optimistic that Ripple XRP is set for a major rise, and hints that an XRP ETF is “around the corner.” Speaking on X about XRP’s bullish trend as of late, Hiesboeck says that the surge is linked to further development of the token. This development could be the work of a new XRP ETF to join the family of ETF cryptocurrencies.
Hiesboeck believes that the development of XRP will build up following the conclusion of Ripple Labs’ case against the SEC. In February 2024, Ripple CEO Brad Garlinghouse addressed the potential launch of an XRP ETF. With the approval of Spot Bitcoin ETFs and rumblings of an Ethereum ETF, XRP is a likely candidate to be next, due to its rapid growth and trading volume.
“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.”
Martin Hiesboeck, Uphold Bank Executive
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The biggest hurdle for XRP to achieve is the requirement to obtain a non-security status in the US. This is the premise behind the company’s ongoing legal battle with the SEC.
With hopes dwindling around the Ethereum ETF’s approval, the potential for an XRP ETF may be just in jeopardy. We’ll have to wait until March 22 for remedies-related briefs in the settlement. By then, we may also have a final decision from the Judge looking over the case.