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- Ripple’s (XRP) president makes an interesting disclosure on the launch date for RLUSD on Coinbase and claims the listing will occur soon.
- She also disclosed the possible approval of the various spot XRP ETF applications under the incoming administration.
CNF earlier reported the launch of Ripple stablecoin RLUSD on CoinMENA, Bitso, Uphold, MoonPay, and Archax with additional listings on Mercado Bitcoin and Independent Reserve. However, users have been calling for strategic expansion, including a launch on Coinbase.
Responding to these calls, Ripple President Monica Long disclosed in an interview with Bloomberg that the RLUSD launch on Coinbase would be coming soon. When asked how soon, she replied “imminently.”
Ripple President Monica Long expects to see their new stablecoin RLUSD on more platforms “imminently” and says we will see an XRP ETF soon https://t.co/e4TuV4XPv3 pic.twitter.com/LhfIMNDDs9— Bloomberg Crypto (@crypto) January 7, 2025
More on the RLUSD and ETF Update
Speaking on the acceptance and growth of the RLUSD coin, Monica highlighted the impressive reactions and linked its overall performance to the crypto market. According to her, demand for stablecoins would skyrocket this year as the crypto market has been tipped for a massive revolution. In a nutshell, Monica disclosed that the coin has “seen a really strong growth trajectory and would have a premium role in the Ripple ecosystem.”
Currently, RLUSD has a 24-hour trading volume of $87 million with a market cap of $53 million. It also maintains a $1 price with a ranking of 2963 on the CoinMarketCap list.
Aside from the RLUSD, the Ripple Exchange Traded Fund (ETF) is expected to take center stage in 2025. According to her, this is the next in line to hit the market after the approval of Bitcoin and Ethereum ETFs in 2024. She also confirmed that the multiple filings from Canary Capital, Bitwise, 21Shares, and WisdomTree could see approval under the new administration.
Possible XRP ETF Delay and Analysts Price Predictions
Bloomberg analysts Eric Balchunas and James Seyffart believe that the XRP and Solana ETF approvals could be delayed due to their ongoing legal issues with the US Securities and Exchange Commission (SEC). As we highlighted in a previous report, the analysts predict that Litecoin and Hedera (HBAR) ETFs could get immediate approval due to their commodity status.
Amid the backdrop of this, XRP has declined by 3% in the last 24 hours to trade at $2.3.
Speaking on the current price action, an analyst identified as Nebraskangooner highlighted that XRP has taken a nosedive into a falling wedge pattern. According to him, the asset engaged in a fake breakout on January 3 to consolidate above the edge of the bullish flag pattern.
In his thesis, Nebraskangooner predicted that XRP could decline from its current position to reach $2.0 by losing 12% of its value. Meanwhile, the asset broke out from this crucial support area on December 10 and December 20. For analyst EGRAG CRYPTO, the asset’s price between $2 to $2.65 “is all noise.”
According to analyst Mikybull Crypto, XRP could break out to target the $3.2 level this month. From this level, the asset could continue its run to reach the Fib. 1.618 level at $3.7 and subsequently breach the $3.84 all-time high price. Fascinatingly, this aligns with a recent prediction by analyst CrediBULL Crypto, which estimates a decline to a local downside target and stages a rebound to an unprecedented height.
Above all, analyst Ali Martinez believes that XRP could surge by 470% in the near term, coinciding with analyst Peter Brandt’s prediction featured in a CNF report.
