XRP a new threat to Wall Street dominance, claims Canary Capital CEO!

Jakarta, Pintu News – At the recent Ripple Swell conference, Canary Capital CEO, Steven McClurg, revealed that the XRP Ledger has the potential to rival traditional financial systems on Wall Street.

XRP Ledger as a Payment Path

Steven McClurg, with a background as an emerging market bond manager, highlighted the high cost of remittances as a serious problem. Workers often have to pay between 8% to 15% to send money home. According to McClurg, blockchain pathways such as XRP Ledger (XRPL) can significantly reduce such costs. This, he believes, will increase institutional interest in the technology.

McClurg also reiterated his prediction that funds managed through Ripple (XRP)-based Exchange-Traded Funds (ETFs) could reach $10 billion in flows within the first month of launch, if well supported. This shows the huge potential of XRP as a means of payment and investment.

Also Read: XRP’s Drastic Decline: Is It the Right Time to Buy?

ETF Filing Progress

Several large financial firms such as Franklin Templeton, Bitwise, and Canary Capital have updated their S-1 filings related to Ripple (XRP) funds. Franklin Templeton has even removed clause 8(a) from their S-1 filing, which reduces procedural grounds for delay. This indicates their preparation for a possible product launch in the near future.

On the other hand, Grayscale has filed a second amendment and has named key executives and legal counsel in their documents. This move suggests that market managers are preparing for a possible launch in November, although the timing of approval from the SEC is still an important factor.

Utility of Payments versus Investment Structure

McClurg emphasized that Ripple’s (XRP) role as a payment token gives it a different profile from assets that rely on staking. He stated that Ripple (XRP) ETF holders will not face the dilemma of losing staking proceeds, which has affected some Ethereum (ETH) products. This is one of the reasons why Ripple (XRP)-based ETFs might attract different fund flows, not just follow in the footsteps of previous crypto funds.

Ecosystem and Industry Players

Ripple has launched XRP Ledger (XRPL) focused products such as RLUSD and institutional services under the Ripple Prime brand. Reports mention a partnership with GTreasury and Rail to enhance clearing and custody capabilities. These efforts are designed to make XRP Ledger (XRPL) more useful for banks and large financial institutions that need predictable settlement and custody options.

Expected Market Reaction

Traders will monitor liquidity, trading spreads and whether the initial ETF buyers are from corporate treasuries, family offices or retail channels. Large fund flows in the first month, such as McClurg’s projected $10 billion, will change short-term price dynamics. However, the approval date and fund structure will determine how quickly capital moves.

Conclusion

With technological advancements and regulatory changes, the XRP Ledger (XRPL) shows significant potential to change the global financial landscape. Going forward, it will be interesting to see how this innovation will impact the dominance of Wall Street and the traditional financial system.

Also Read: Dogecoin’s Drastic Drop in Early November 2025: What Should Investors Know?

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Reference

• NewsBTC. XRP Is a Threat to Wall Street’s Stronghold, CEO Warns. Accessed on November 7, 2025
• Featured Image: Thecryptoalert