- XRP ETF Polymarket Odds Briefly Soared Above 70%
- Surge was caused by speculation about Trump’s receptiveness to XRP and other tokens
Ripple online community, better known as the ‘XRP army’, is very optimistic about the altcoin. This is thanks to the recent rise to a new seven-year high above $3. But that’s not all.
Especially since now, market expectations for an American Spot XRP ETF have been very high. In fact, the approval rating for the same briefly rose to 72% on January 17 on Polymarket.
Source: Polymarkt
Although Polymarket’s odds dipped slightly to 68% at the time of writing, the increase to +70% was notable. For context, odds are up 15% in less than 24 hours. A somewhat contradictory move after the SEC filed an appeal against Ripple Labs. So, what was the driver?
Well, the sharp optimism could have been linked to speculation that President Donald Trump is “receptive to crypto reserves,” including XRP. This was part of a recent one report by the New York Post.
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Right now, many believe that Bitcoin [LTC] will be the next altcoin with a Spot ETF. Hence the question: will XRP be next? According to Monica Long of Ripple Labs, XRP ETF is probably ‘next in line.’
Despite the ongoing SEC lawsuit, the community is now hopeful for a bullish XRP ETF outcome as the new administration is considered pro-crypto. The optimism could be validated if the new regime “freezes” some crypto lawsuits and provides more regulatory clarity on the legal status of XRP.
In the meantime, XRP has extended its November gains to +570%. At the time of writing, it was trying to hold above its local high of $3.3. Should it regain these, $4.3 could be within reach for the altcoin.
Source: XRP/USDT, TradingView