XRP News Today: Bank of America CEO: "We're all in on #XRP" as U.S. Banks Embrace Ripple's Technology

Ripple President Monica Long recently shared her insights on the evolving landscape of blockchain technology and XRP, highlighting a significant shift in the approach of U.S. banks towards these innovations. In a video excerpt posted by crypto analyst and YouTuber BullRunners, Long noted a sudden and noticeable change in how major financial institutions are engaging with Ripple’s technology.

Long’s remarks, which have garnered considerable attention, suggest that Bank of America’s leadership is particularly enthusiastic about embracing Ripple’s solutions. She quoted Bank of America’s CEO, Bryan Moynihan, as saying, “We’re all in on #XRP,” indicating a strong commitment to integrating Ripple’s technology into their operations. This sentiment reflects a broader trend of major financial institutions preparing to enter the digital asset space, with Bank of America being one of the notable examples.

Long attributed this rapid turnaround in institutional tone to the rollback of SAB 121, a regulatory guideline that had previously restricted banks from participating in the crypto custody market. The lifting of this restriction has led to immediate positive reactions from executives at major financial institutions, signaling a new era of acceptance and integration of digital assets.

Ripple’s history with major U.S. banks, including Bank of America, dates back to its early focus on messaging software and payment solutions. Long highlighted that while these institutions had previously worked closely with Ripple, recent years brought growing regulatory uncertainty and what she described as “hostility” toward digital assets. However, this environment appears to be changing rapidly, with Ripple’s conversations with banking partners around stablecoin integration and transaction banking undergoing a dramatic shift.

Long emphasized that the post-election climate has played a significant role in this transformation. The pro-crypto stance of the current administration has helped the crypto market grow, with the SEC ending its previous hostility towards digital assets. This shift has sent XRP to heights not seen since 2018, and the SEC has also dismissed its lawsuit against Ripple, further paving the way for broader acceptance of cryptocurrencies.

Ripple CEO Brad Garlinghouse has acknowledged this shift, attributing the renewed acceptance of cryptocurrencies to the “Trump effect.” The post by BullRunners suggested that BlackRock’s involvement in the market through an XRP ETF would open the floodgates for XRP. While BlackRock has yet to file for an ETF, the company recently met with the SEC’s crypto task force to discuss ETF approval standards, indicating a strong interest in the market.

Long’s comments reflect a growing optimism that the barriers Ripple has faced are now being lifted, with major banks beginning to treat its products and XRP as viable components of the future financial system. This shift in sentiment is expected to have a significant impact on the adoption and integration of Ripple’s technology in the financial sector, potentially leading to a surge in the use of XRP in the coming year.