The latest crypto developments show Ripple is looking for a Senior Manager for Business Development. The New York-based official will handle exchange-traded fund responsibilities. Meanwhile, the community believes the new position is the first step towards the anticipated XRP ETF.

Good Morning Crypto revealed the news via X, attracting the attention of crypto enthusiasts. Eleanor Terrett, a Fox Business reporter, reacted to the post, stating that hiring the expert is the initial step towards an XRP ETF.

Terrett stressed that a Ripple futures ETF is paramount before an XRP spot exchange-traded fund approval. She highlighted how CME Bitcoin futures authorization was vital for the SEC’s approval of BTC spot exchange-traded funds.

The cryptocurrency community has speculated about a possible XRP ETF launch over the last few weeks. Enthusiasts express diverse opinions on the subject. Nevertheless, the ongoing Ripple vs. SEC regulatory battle will likely hinder an ETF (in the near term).

Impact of a potential XRP ETF

An exchange-traded fund will boost Ripple’s mainstream adoption and the native coin’s growth. XRP traded bullishly at $0.5278 at press time, following a nearly 3% jump over the last day.

However, longer timeframes show struggles. For instance, it lost over 15% within the past 30 days.

Overcoming the current regulatory obstacles and an XRP exchange-traded fund launch will trigger significant recoveries for the remittance coin. Moreover, invezz.com reported that Ripple will be among the bullish crypto projects in 2024.

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