Ripple President Monica Long has made a key statement about expected changes in blockchain technology and XRP from U.S. banks in 2025, pointing to financial institutions' readiness for new technologies.
Change in Sentiment
Monica Long noted a noticeable change in how U.S. banks are approaching blockchain technology and XRP. This shift is connected to the rollback of SAB 121, which had previously restricted banks from participating in the cryptocurrency market. Executives from leading financial institutions demonstrated positive reactions to these changes.
Long stated, “It feels like the floodgates are going to open this year, doesn’t it?” She pointed to Bryan Moynihan, CEO of Bank of America, expressing their readiness to deepen collaboration with Ripple.
XRP Transfer to Korean Exchange
Additionally, there has been a significant transfer of XRP to the South Korean exchange Bithumb, with 20 million XRP moved, valued at approximately $50.1 million at the time of the transaction. Initial speculations about the nature of this transfer were related to a potential payment to the SEC; however, data indicates that both the sender's and recipient's addresses belong to Bithumb itself, suggesting it was an internal reshuffling.
Future of XRP in the Financial System
Long emphasizes that the environment for Ripple is changing. With 2025 approaching, hopes are tied to a significant increase in the acceptance of XRP within traditional financial institutions, potentially leading to its broader integration into the financial system. The potential for an XRP ETF also supports a positive outlook for cryptocurrencies in the banking sector.
Monica Long expresses optimism about XRP's future, anticipating significant changes in attitudes towards blockchain technologies and cryptocurrencies from major banks in 2025.
