The odds on the approval of an XRP ETF surged to 70% on Polymarket after the Ripple token surge 44% over the past week.
XRP has been rising steadily since Donald Trump’s win in the US elections. The token is closing on its all-time high of $3.84, set seven years ago, and stands at $3.24 as of 11.21 a.m. EST.
The token’s rise, supported by the growing enthusiasm for cryptocurrency under the incoming Trump administration, increased the odds of XRP ETF approval to 70%.
Let’s find out if the Ripple price rally will continue and if its ETF finally receives approval.
Polymarket Odds for XRP ETF Approval Hit 70% – What’s Next?
With a Polymarket indication of a 70% probability , XRP ETF odds for approval in the US could be expected to happen soon.
As soon as the Bitcoin ETFs were launched, crypto investors and influencers started speculating on the possible approval of XRP ETFs. The optimism surged even more around the Ethereum ETF launch, fueled by its high inflows and growing popularity.
The thing that has been stopping the approval of XRP ETFs is the SEC’s stance on Ripple. With the incoming Trump administration and news of Gensler’s resignation, that obstacle could potentially be removed.
XRP’s price nearing its all-time high has pushed investor expectations about a Ripple ETF, increasing Polymarket odds to 70%. This is a significant increase from last week’s 50%. Despite this, approval chances before July remain at 50%. Analysts expect gradual progress through 2025 under Trump’s presidency.
XRP Price Surged 44% Over The Week To 7-Year High
XRP token is among the highest-performing cryptocurrencies of January, with a 44% surge during the week, following a bullish trail since November. As a result, it saw the largest market recovery, reaching a 7-year high of $3.38 earlier today.
There are numerous reasons for this shift, including Gary Gensler’s decision to resign as Chair of the Securities and Exchange Commission and the anticipated conclusion of the SEC vs. Ripple case, which has been a major concern for XRP holders. On top of that, the incoming Trump administration welcomed crypto adoption in the US.
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