Expectations for the approval of a spot XRP ETF in the US have significantly increased following recent market developments. Predictions on the Polymarket platform show a 90% probability, up from 70% previously.
Rise of ETF Approval Optimism for XRP
On Polymarket, the probability of approving a spot XRP ETF has surged to 90%, supported by a trading volume of over $95,000. This indicates growing optimism compared to other cryptocurrencies like Bitcoin and Ethereum. However, the SEC has postponed its decision on Franklin Templeton's ETF for 35 days and initiated a public comment period.
Canada Takes the Lead in XRP ETF Race
While US regulators hesitate, Canada has shown a more proactive approach by successfully launching XRP ETFs approved by the Ontario Securities Commission. Purpose Investments set a precedent by temporarily waiving management fees until February 2026, making its ETF the first zero-fee option for early investors.
Resilience of XRP Prices
Despite the anticipation for an ETF approval, the price of XRP shows remarkable stability. In the futures market, long position liquidations outpaced short positions by 8,466%, yet XRP's price increased by only 0.20%. This suggests rising institutional interest, highlighting the cryptocurrency's resilience in facing market stress.
Overall, the rising optimism regarding the spot XRP ETF in the US is underscored by SEC delays, while Canada takes more active measures. The resilience of XRP prices also points to interest from large investors, creating positive prospects for the cryptocurrency market.
