- Ripple’s RLUSD stablecoin is set to expand beyond its current limited exchange presence with a market cap of US$53 million and a daily volume of US$138.9 million.
- Monica Long forecasts significant growth in stablecoin adoption and reveals Ripple’s payment solutions business doubled in 2024.
- Long expects XRP to be among the next cryptocurrencies approved for spot ETFs in the US following Bitcoin and Ethereum, particularly with upcoming changes in SEC leadership.
According to Ripple President Monica Long, the rollout of their stablecoin, RLUSD, is “imminently” hitting major exchanges. Right now, the stablecoin dubbed by Long as the ‘Ripple Dollar’, only trades on a handful of exchanges, like Bitstamp, Bitso, Moonpay, Independent Reserve and Bullish.
Related: Ripple Integrates Chainlink Standard for Secure Pricing Data on New RLUSD Stablecoin
Long said during an interview with Bloomberg Crypto that Ripple is working on expanding to more platforms, but wouldn’t give a specific timeline.
2025, The Year of Crypto?
RLUSD currently runs on the XRP Ledger (XRPL) and Ethereum and is a relatively small (and new, having launched only weeks ago) stablecoin with a market cap of around US$53 million (AU$85.3 million) and a 24-hour volume of U$138.9 million (AU$223.5 million).
Long believes the adoption of RLUSD, and stablecoins in general, will speed up alongside the growth of the overall crypto market.
We think that this year is going to be a big year for crypto overall. Demand for stablecoins will grow alongside with that […] as the way to on-ramp and off-ramp, it’s also used as a key asset in trading.
Ripple President Monica LongThe Ripple president also sees a strong “growth trajectory” for Ripple’s payment solutions and said they doubled their payments business in 2024.
Long: Various Spot ETFs Coming for US in 2025
Asked about the potential for an exchange-traded fund (ETF) tied to XRP, Long said it’s likely coming soon, alongside other altcoin ETFs in the United States.
XRP is likely to be next in line after Bitcoin and Ether.
Ripple President Monica LongLong believes that changes in the White House administration will help speed up the approval of several spot altcoin and XRP ETF applications filed in the US.
That sentiment is echoed by Bloomberg Intelligence analyst Athanasios Psarofagis, who said that right now crypto ETFs are “hot”, and that “issuers love to strike when the theme is hot”.
There’s a whole bunch of altcoin ETFs waiting to be approved, ranging from Solana, HBAR, Litecoin and of course XRP.
The Bitcoin ETFs themselves have been a huge success, and despite some recent mixed results, they have shown strong and continued net inflows. The US ETFs alone hold 5.44% of total Bitcoin supply after just one year of trading.
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Certainly a success many altcoins would be eager to replicate, and given that Gary Gensler is leaving the US Securities and Exchange Commission (SEC) soon, the chances for at least some of these applications have never been better.
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