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Sean McBride, Ripple’s former director, has shared his insights on when he believes the price of XRP will take off and the timeline for the launch of XRP ETFs.
Recently, XRP community member Kenny Nguyen sought McBride’s opinion on the upcoming RLUSD stablecoin and XRP ETFs. He also inquired about the potential price implications for XRP, specifically asking whether the former Ripple director believes these developments could lead to XRP thriving by 2025.
McBride expressed his belief that XRP ETFs could be “landing” as early as next month. This aligns with his previous assertion that an XRP ETF would launch before the end of 2024. Notably, at that time, no filings for an XRP ETF were under consideration by the SEC.
However, recent developments have seen asset managers Canary Capitals and Bitwise submit individual applications for XRP ETFs. Additionally, Grayscale has applied to transform its digital large-cap fund, which includes assets like XRP, into a basket ETF this month.
It is important to note that it is highly unlikely the SEC will approve these XRP investment funds next month, as McBride suggested.
Analysts, including Bloomberg ETF expert James Seyffart, have indicated that an XRP ETF would have a better chance of approval with a new SEC administration, a new U.S. president, or congressional action, all of which further extends the launch timeline.
When XRP is Taking Off
Based on his belief in the launch timeline, McBride stated that XRP’s price could begin its long-awaited bull run next year.
I think that ETF will be landing next month. XRP is going to take off next year. RLUSD will be hugely popular along with the entire crypto market. It’s going to be a lot of fun.
— Sean McBride (@seanmcbride16) October 25, 2024
Notably, XRP’s price has continued to decline this week amid Bitcoin’s instability. It is currently trading at $0.5247, down 15% year-to-date. XRP holders have been eagerly awaiting price growth, but the asset continues to underperform.
Ripple’s Stablecoin to Gain Popularity, Benefiting XRP
McBride also shared his thoughts on the upcoming RLUSD, predicting it will gain significant popularity alongside the broader crypto market. “It’s going to be a lot of fun,” he said.
In a recent interview, Ripple CEO Brad Garlinghouse discussed the RLUSD stablecoin and its role in Ripple’s payment vision. He emphasized that stablecoins have long been integral to Ripple’s payment flows, noting that at one point, their institutional activities accounted for 20% of all USDC minted.
Garlinghouse highlighted the past banking crisis and USDC’s de-peg as indicators of market opportunity, particularly given Ripple’s strong balance sheet and active liquidity. He stressed that Ripple’s focus isn’t on competing with existing stablecoins like USDC and Tether but on expanding the overall market.
He noted that while Tether may continue to grow, its market share could decline, creating space for more liquidity on the XRPL, which would ultimately benefit the entire XRP ecosystem.