- XRP ETF Polymarket odds briefly surged above 70%
- Surge was driven by speculation about Trump’s receptiveness to XRP and other tokens
The enthusiastic group behind Ripple, often referred to as “XRP Community,” expresses strong optimism towards XRP. This confidence stems from its latest spike reaching a fresh seven-year peak of more than $3. But there’s more:
Currently, there’s a significant surge in anticipation among investors regarding a potential U.S Spot XRP Exchange-Traded Fund (ETF). Interestingly, on 17th January, the probability of approval for such an ETF reached as high as 72% according to Polymarket.
Currently, Polymarket’s odds have slightly pulled back to 68%, but the jump to 70% is worth mentioning. To put it into perspective, these odds increased by a significant 15% within just one day, which seems unusual considering the SEC recently filed an appeal against Ripple Labs. Therefore, what could have caused this unexpected shift?
Indeed, the upbeat sentiment might stem from rumors suggesting that President Donald Trump is open to digital asset reserves, such as XRP. A recent article from The New York Post hinted at this possibility.
Currently, there’s a widespread opinion that Litecoin [LTC] could soon get a Spot Exchange Traded Fund (ETF). This leads us to wonder if the same might happen with XRP. As suggested by Ripple Labs’ Monica Long, it appears that an XRP ETF may be next in line for approval.
Although the Securities and Exchange Commission (SEC) lawsuit against XRP continues, there’s growing enthusiasm among the community that a favorable outcome for an XRP Exchange-Traded Fund (ETF) might occur. This optimism stems from the belief that the incoming administration is supportive of cryptocurrencies. If the new regime chooses to postpone some crypto-related lawsuits and provide clearer regulations regarding XRP’s legal classification, this hope could be substantiated.
For now, Ripple (XRP) has built upon its November growth by a staggering 570%. At this moment, it’s trying to maintain its position above its current peak of $3.3. If successful, breaking through that level might pave the way for XRP to reach an estimated $4.3.
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2025-01-17 17:11