Ripple News: XRP Could Double Its Market Share in ETFs, Predicts Market Veteran

Ripple News: XRP Could Double Its Market Share in ETFs, Predicts Market Veteran
coinpedia
coinpedia
XRP-4.48%
BTC-3.62%
SOL-4.00%
SUI+0.06%
ETH-1.30%

The post Ripple News: XRP Could Double Its Market Share in ETFs, Predicts Market Veteran appeared first on Coinpedia Fintech News

In a recent interview, Steven McClurg, CEO of Canary Capital, shared some interesting thoughts about XRP’s future in the financial world. According to him, cryptocurrencies like XRP and Ethereum could soon hold a bigger share of the market, especially in terms of assets managed through ETFs (Exchange-Traded Funds).

Currently, Bitcoin leads with around 5.6% of market share in ETFs, while Ethereum sits at about 3%. McClurg said it’s possible for XRP and ETH to reach around 6% in the future as more people start understanding how these assets work as financial tools.

While Ripple, the company behind XRP, faced legal challenges over the years, it built strong partnerships worldwide. He said that Ripple is now well-positioned to compete with traditional financial systems like Fedwire, something that didn’t seem possible a few years ago.

On the topic of investments, McClurg said that some investors will prefer ETFs for their simplicity and transparency, while others might go for companies holding cryptocurrencies like XRP as part of their treasury. He expects a mix of both, with some people choosing to invest directly in crypto-backed ETFs, while others might opt for companies managing digital assets.

Overall, McClurg believes Ripple is one of the strongest contenders in the race to modernize financial transactions, and XRP could play a big role in this growing market.

When asked about altcoin season, he added that while Bitcoin is expected to climb towards $140,000, some altcoins will follow, though not all will reach new highs. “I don’t see Solana or Ethereum breaking new all-time highs this year,” McClurg said. Instead, he said that newer tokens like SUI, Injective, and Axelar have a better chance of hitting fresh records.

As for XRP, McClurg said its price movement will likely depend on ongoing legal and regulatory developments, but he does expect it to hit a new high for this year, even if not an all-time record.

The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.