Recent data indicates a significant rise in confidence regarding the approval of an XRP ETF, with market participants anticipating positive changes in the near months.
Rise in Confidence
Crypto expert Amonyx (@amonbuy) highlighted a significant rise in confidence surrounding the approval of a spot XRP ETF, citing probability at 84% from Polymarket. This surge in optimism reflects a series of regulatory and market developments positioning XRP favorably within the evolving landscape of cryptocurrency investment products.
Launch of XRP Futures on CME
The recent launch of XRP futures by the Chicago Mercantile Exchange (CME) was a pivotal moment for those anticipating spot XRP ETFs. This introduction allows traders to engage with XRP’s price movements without holding the asset directly, enhancing XRP’s regulatory credibility.
Increase in ETF Applications
Currently, more than ten applications for XRP ETFs are under review by the SEC, with notable firms such as Bitwise and Grayscale among the applicants. Decisions are anticipated soon, potentially reinforcing growing interest in XRP.
Overall, the combination of futures launching, numerous ETF applications, and increasing investor interest creates a bullish environment for XRP. Expected ETF approval could be the final catalyst for a price rally.
