Ripple News: John Deaton Gets Emotional As First US XRP ETF Goes Live Tomorrow

The post Ripple News: John Deaton Gets Emotional As First US XRP ETF Goes Live Tomorrow appeared first on Coinpedia Fintech News

Big news for cryptocurrency fans— the first XRP Exchange-Traded Fund (ETF) is set to launch in the United States tomorrow. This new ETF, called XXRP, will give investors a way to trade XRP with a 2x leverage, meaning it aims to double the returns based on XRP’s daily price changes.

This launch comes at a time when more investors are looking for ways to invest in altcoins like XRP. There are even more XRP ETFs waiting for approval from the SEC, along with ETFs for other cryptocurrencies like Solana.

The excitement also comes after some good news for XRP’s legal troubles. The Ripple case, which has been ongoing for years, seems to be almost over. Ripple has agreed to pay a $50 million fine, and the company can now move forward. This has helped boost confidence in XRP and its related financial products.

What a difference four years makes. Around this time, 4 years ago, I was filing a Motion to Intervene into the @Ripple case, asking Judge Torres to allow a putative class of XRP holders to become actual defendants in the case. Most lawyers laughed at my motion, although, tbh, I… https://t.co/JEDWpKa6Et

John Deaton, a key figure in the Ripple case, reflected on how much has changed over the past four years. He recalled how he fought to get XRP holders involved in the legal process, which helped shape the court’s decision. The judge ruled that XRP is not a security, which was a huge win for the crypto community.

 “Most lawyers laughed at my motion, although, tbh, I didn’t blame them or even get mad. It had never been done before. I knew Judge Torres would never force the SEC to sue, at the time, 12,600 XRP holders (which grew to 75K) but man, did it send the right message,” he said.

The launch of the XXRP ETF signals not just a new investment option but also a turning point in the acceptance and integration of cryptocurrencies into traditional financial markets. “And today, this is like the 20th XRP related ETF.  Never say you can’t make a difference,” he concluded.