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XRP ETF Approval Odds Jump to 85% After SEC Ends Legal Battle with Ripple
In a shocking turn of events, the U.S. Securities and Exchange Commission (SEC) has announced that it will no longer pursue its appeal against Ripple Labs, effectively ending a $1.3 billion lawsuit over the alleged sale of unregistered XRP securities. This sudden shift in the legal battle has sent shockwaves through the cryptocurrency market, resulting in a significant surge in the approval odds for an XRP ETF.
Industry experts are now predicting that the chances of an XRP ETF being approved have jumped to an astonishing 85%. According to Nate Geraci, president of investment advisory firm ETF Store, it is “obvious” that an XRP ETF is only a matter of time. He believes major asset managers like BlackRock and Fidelity could be among the first to launch such a product.
An ETF allows investors to buy shares linked to an asset, such as XRP, without directly owning the cryptocurrency. A U.S.-approved XRP ETF would open the door for traditional investors and institutions to gain exposure to XRP through regulated platforms.
In a surprising move, Ripple CEO Brad Garlinghouse has also expressed his confidence in approvals by the second half of 2025. He attributed this optimism to the company’s favorable court outcome and improving relations with regulators as key reasons behind his prediction.
Moreover, it seems that betting activity on crypto prediction platform Polymarket reflects similar sentiment. According to recent data, users have given an astonishing 86% chance that the SEC will approve the ETF by the end of 2025. However, expectations are more cautious for a mid-year approval, with odds standing at just 42%.
Polymarket has gained a reputation for its accuracy, boasting over 90% accurate forecasts in the month leading up to actual outcomes. As a result, investors and traders alike are taking notice of this significant shift in sentiment.
Despite the sudden surge in approval odds, XRP’s price did not rise significantly following the announcement. On March 19, XRP was trading at $2.32. However, the digital asset is now being traded at $2.41, a mere 1.4% drop from yesterday’s levels.
The cryptocurrency market has been left stunned by this sudden turn of events. The news has sent shockwaves throughout the industry, resulting in a significant surge in approval odds for an XRP ETF.
Source: https://coinchapter.com/xrp-etf-approval-odds-jump-to-85-after-sec-ends-legal-battle-with-ripple/?utm_source=rss&utm_medium=rss&utm_campaign=xrp-etf-approval-odds-jump-to-85-after-sec-ends-legal-battle-with-ripple
