Ripple president notes US banks' reversal toward XRP

Ripple president Monica Long announced a dramatic shift in major US banks' attitude toward blockchain solutions and XRP. In an interview that resonated in the crypto community, Long noted that Bank of America has expressed its willingness to go all the way in cooperating with the digital company. She said that such rapid changes became possible after the repeal of SAB 121, an accounting regulation from the US Securities and Exchange Commission (SEC) that had previously restricted financial institutions from working with crypto assets.

Long also emphasized that, after Donald Trump won the 2024 election, discussions with banks took a dramatic turn, renewing interest in Ripple solutions. Against this backdrop, demand for XRP has reached its highest levels since 2018.

According to BullRunners, BlackRock's potential launch of an XRP ETF could further boost institutional interest. Ripple views this as the beginning of a new phase, marked by restored confidence among banks and growing attention to XRP infrastructure as part of the future financial system.