Bitwise discusses the mainstreaming of cryptocurrencies, highlighting XRP as a promising asset amid the success of Bitcoin and Ethereum spot ETFs.
Significant Investor Interest
Bitwise notes significant retail interest in XRP, supported by a survey from EY. XRP ranks among the top 4 cryptocurrencies by retail investor allocation, indicating potential interest in spot XRP ETFs filed in the US.
Impact of US Administration Change
Bitwise emphasizes that XRP could benefit from the change in US administration and reduced regulatory uncertainty. Gary Gensler is set to step down as SEC chairman in January 2025. Since the election, XRP has surged by 188%.
XRP's Real Use Cases
XRP is widely used for cross-border payments. Ripple's partnerships with SBI Remit and MoneyMatch enable instant cross-border payments. XRP can finalize payments in 4 seconds and handle up to 1,500 transactions per second, significantly impacting the cross-border payments market.
Bitwise views XRP as having significant growth potential and potentially being among the next cryptocurrencies approved for spot ETFs in the US. Ripple's strategic investments in XRP-based ETPs draw attention to its potential for institutionalization.
