XRP ETF Around the Corner, Uphold Head of Research Says, Hinting at Bigger Price Impact

XRP’s recent price surge has generated optimism among industry experts, such as Martin Hiesboeck, Head of Research at Uphold Exchange, who believes that an XRP ETF could have an even greater impact on the cryptocurrency’s price. On Monday, XRP experienced a significant rally, breaking through multiple resistance levels and reaching a new yearly peak. This unexpected gain has caught the attention of the crypto community, particularly those who have been concerned about XRP’s performance in the bull market. Hiesboeck attributes XRP’s impressive performance to the positive developments surrounding the asset since the regulatory clarity ruling last year and hints at the imminent arrival of an XRP investment product. He believes that increased development on XRP since the lawsuit settlement has paved the way for an XRP ETP (Exchange-Traded Product) in the near future. Uphold’s Head of Research asserts that a genuine U.S.-listed XRP investment vehicle is currently being developed, suggesting that XRP could experience even more significant price impacts in the coming weeks. While the XRP community eagerly awaits an XRP ETF, asset managers like BlackRock have remained cautious about disclosing their plans. However, other industry experts, including Ripple CEO Brad Garlinghouse and Valkyrie executive Steve McClurg, share the belief that an XRP ETF is inevitable. Garlinghouse expressed his support for an XRP ETF, while former Ripple director Sean McBride boldly predicted its emergence in either 2024 or 2025. While the prospects of a U.S.-listed XRP ETF remain uncertain, other countries already offer XRP investment vehicles, such as the XRP ETP listed on the Swedish Stock Exchange.