Ripple
September 13, 2024
Daily Unicorn News - September 13, 2024
Ripple CEO Brad Garlinghouse shares his thoughts on Grayscale's launch of an XRP trust, marking a significant milestone for the cryptocurrency. The announcement has led to a notable spike in XRP's price, reflecting growing investor interest and regulatory clarity.
() Introduction
() Daily Unicorn News from Ripple
Ripple CEO Brad Garlinghouse recently reacted with surprise and amusement on social media to Grayscale's announcement of launching an XRP trust. This move, initially reported by Fox Business, could pave the way for an XRP exchange-traded fund (ETF). The announcement has led to a more than 5% increase in the price of XRP. Garlinghouse, who has long anticipated such a development, believes that regulatory clarity in the U.S. and other countries will drive growth in the cryptocurrency space. He compared the diversification in crypto investments to that in precious metals, citing XRP's market cap as a strong reason for ETF issuers to consider it. This follows a significant legal victory for Ripple last year when a U.S. judge ruled that secondary XRP sales were not unregistered securities, leading to the token's reinstatement in Grayscale's large-cap fund earlier this year.
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