The experts remain optimistic about a potential XRP ETF launch in the coming days, especially with soaring anticipation towards a pro-crypto regulation in the US. Donald Trump’s election win has bolstered market optimism towards a favorable environment for the crypto in the nation. Besides, the recent approval of the Ripple stablecoin RLUSD has also fueled the market sentiment.

Is XRP ETF Launch Imminent?

The investors appeared to have remained optimistic about the favorable regulatory environment in the US with Donald Trump’s election win. Notably, Trump has actively voiced his support for the crypto industry during his election campaigns, while pledging to make the US a crypto leader.

This has also fueled hopes among Ripple enthusiasts over a potential settlement in the Ripple Vs SEC lawsuit. Besides, the market enthusiast also anticipates several top altcoins to see their ETF launch in the coming days, with the anticipated pro-crypto regulation.

Amid this, prominent crypto market figure Ben Armstrong, also known as The BitBoy, has shared a bullish forecast for Ripple’s native crypto. In a recent X post, he highlighted that GrayScale XRP Trust has noted more than 300% returns since May, suggesting strong market confidence toward the crypto.

In addition, he noted that the robust return is a “Good sign” of a potential XRP ETF launch in the US soon. This comes as Ripple’s native crypto has recorded a strong rally recently, amid a positive sentiment noted in the broader crypto market. It’s worth noting that GrayScale has also recently filed for Solana ETF, which has sparked discussions over a similar move for XRP from the firm.

Ripple RLUSD Approval Sparks Further Optimism

The recent approval of Ripple’s stablecoin RLUSD by the NYDFS has boosted market optimism. Notably, investors have also shown strong confidence in the market after the US SEC Chair Gary Gensler’s resignation announcement. Notably, Ripple’s native crypto was one of the most benefited coins from that news, with market enthusiasts anticipating the regulators dropping or settling the ongoing lawsuit with Gensler’s exit.

These series of positive developments have sent the XRP price up by 250% in the last 30 days before the crypto recorded a volatile trading this week. On a weekly basis, the crypto has recorded muted trading, while dropping nearly 5% in the last 24-hour timeframe. However, the recent hint from BitBoy towards a potential XRP ETF launch is likely to reverse the trend while bolstering market optimism.

In addition, the recent filings from the renowned institutions for Ripple ETF have also fueled market hopes toward a potential launch ahead. For context, WisdomTree has filed an S-1 Form for the XRP ETF with the US SEC recently. Simultaneously, Bitwise, 21Shares, and Canary Capital, also filed for the same, boosting traders’ sentiment.

Meanwhile, Ben Armstrong appears to have remained positive on XRP’s future trajectory. For context, in a recent X post, he predicted the XRP price rally to $4.5 as soon as this year or by January 2025, gaining investors’ attention.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.